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- GBP/USD rebounds from a multi-week low, albeit lacks follow-through buying.
- Hawkish remarks by the BoE Governor Bailey boost the GBP and lend support.
- Sustained USD buying caps any further recovery and warrants caution for bulls.
The GBP/USD pair stages a goodish intraday bounce from the 1.2420 area, or over a three-week low touched this Wednesday and climbs to the top end of its daily trading range during the early North American session. The pair, however, remains in the negative territory for the second straight day and is currently placed around the 1.2470-1.2475 region, down over 0.10% for the day.
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