GBP/USD continues its sideways performance below 1.2500 as USD Index defends downside

GBP/USD continues its sideways performance below 1.2500 as USD Index defends downside – by Sagar_Dua24 GBPUSD Fed BOE DollarIndex Inflation

Market sentiment is positive as fears of catastrophic US default have trimmed sharply.

The GBP/USD pair is displaying a back-and-forth action below the psychological resistance of 1.2500 in the Tokyo session.is failing to deliver decisive action amid the absence of critical triggers. The USD Index is making efforts for defending its downside near 1.2480, however, the downside seems favoured as the White House has agreed to raise US borrowing cap as the cost of the President’s spending initiatives.

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