The GBP/USD pair continues with its struggle to gain any meaningful traction and oscillates in a multi-day-old trading range, around the 1.2100 mark d
GBP/USD extends its subdued range-bound price action during the Asian session on Monday. Traders opt to wait on the sidelines ahead of the FOMC and the BoE meetings later this week. In the meantime, a modest USD strength continues to act as a headwind and exerts pressure. uring the Asian session on Monday.
The UK central bank, however, is unlikely to relax its stance in the fight against high inflation rate and might keep the door open to further tightening. The uncertainty, in turn, is holding back traders from placing aggressive directional bets around the British Pound and contributing to the GBP/USD pair's range-bound price action. The lack of any buying, meanwhile, suggests that the path of least resistance for spot prices remains to the downside.
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