British Pound

GBP/USD is Trading with Clear Dovish Bias, Albeit Range-Bound

GBP/USD Hourly (H1) Chart
GBP/USD Hourly (H1) Chart

GBP/USD: The pair is trading with clear dovish bias, albeit range-bound within a familiar price range. The developments in UK Government on its COVID-19 and Brexit related proceedings weighed down GBP while broad-based caution underpinned USD resulting in Pound’s decline below the key support level. The pair has declined below 1.25 handle for now, but a slight weakness is USD could push price back above 1.25 handle given GBP’s hold above the mid-1.24 handle. 

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