GBP/USD bulls are supported by the USD weakness
GBPUSD is strengthening being supported by several factors. They are correction of the US stock indexes, the increase in the chance of the federal funds rate cut by 25 basis points at the FOMC April meeting to 79%, and the dollar weakening. The GBP positions look extremely vulnerable in February; however, when the major competitor looks weaker, the pound bulls may try to go ahead.
The sterling seems to change its outlook for the better amid the UK stronger domestic data, expectations for the monetary stimulus from new Britain’s finance minister Rishi Sunak,...
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