GBP/USD reverses part of the recent weakness and revisits 1.2370

GBP/USD reverses part of the recent weakness and revisits 1.2370 – by pabspiovano GBPUSD Currencies Majors

The greenback trades without direction near 104.20/30.Despite the broad-based range bound theme in the global markets,GBP/USD looks at USD, risk trends

Moving forward, investors’ attention should refocus on the release of US Nonfarm Payrolls for the month of May , which might have direct implication in the Fed’s interest rate decision on June 14, while further tightening is expected from the BoE also in June, particularly following sticky inflation figures during last month.As of writing, the pair is gaining 0.01% at 1.2344 and the surpass of 1.2409 would open the door to 1.2668 and then 1.2864 . On the downside, the next support emerges at 1.

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