- GBP/USD stages a goodish recovery from over a three-week low amid a modest USD pullback.
- Hawkish Fed expectations and the US debt ceiling optimism should help limit the USD losses.
- Traders also seem reluctant to place fresh directional bets ahead of Fed Chair Powell’s speech.
The GBP/USD pair shows some resilience below the 50-day Simple Moving Average (SMA) on Friday and stages a solid bounce from sub-1.2400 levels, or over a three-week low touched the previous day. The pair, however, retreats a few pips from the daily high touched during the early North American session and currently trades around the 1.2435-1.2445 region, up nearly 0.25% for the day.
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