GBP/USD Technical Analysis: GBP Struggles After Softer GDP Data
Wednesday, 11 September 2024, 06:15
GBP/USD Technical Struggles Post GDP Data
The recent GDP data has resulted in noticeable GBP underperformance against the USD. Insights from Scotiabank’s Chief FX Strategist Shaun Osborne indicate that banks are adjusting their forecasts to align with market realities.
Key Insights from Technical Analysis
- GBP underperformance due to economic indicators.
- Volatility expected as banks reassess strategies.
- Market trends suggest a cautious approach for forex traders.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.