British Pound

GBP/USD: The Pair is Seeing a Highly Volatile Price Action

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

GBP/USD: The pair is seeing a highly volatile price action driven by broad market risk sentiment. The pair tested 1.24 handle on positive risk sentiment earlier in the day supported by news of UK’s plans for slow lockdown easing. But risk-averse market mood later in the day weighed down the pair causing the price to test intra-day low at 1.2284 post which price has consolidated around mid-1.23 handle. Traders now await Fed speech later in the day as any signs on future interest rate stance will help provide directional bias. 

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