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Pound Sterling extends losing spell as UK yields soar further The Pound Sterling (GBP) extends its losing streak against its major peers at the start of the week. The British currency continues to face selling pressure as soaring yields on United Kingdom (UK) 30-year gilts deepen concerns over the nation’s economic outlook. Read More… GBP/USD Price Forecast: Dives to its lowest level since November 2023 amid relentless USD buying The GBP/USD pair remains under heavy selling pressure for the fifth straight day and dives to its lowest level since November 2023, around the 1.2125 region during the Asian session on Monday. Moreover, the fundamental backdrop seems tilted in favor of bearish traders, though slightly oversold conditions on the daily chart warrant some caution before positioning for further losses. Read More… GBP/USD languishes near its lowest level since November 2023, around 1.2200 mark The GBP/USD pair enters a bearish consolidation phase at the start of a new week and languishes near its lowest level since November 2023 touched on Friday, around the 1.2200 mark during the Asian session. Moreover, the fundamental backdrop seems tilted in favor of bearish traders and suggests that the path of least resistance for spot prices remains to the downside. Read More…   Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-extends-losing-spell-as-uk-yields-soar-further-202501131710

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Filed under: News - @ January 13, 2025 7:22 pm