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GBP/USD drops extending its losses past the 20-day Exponential Moving Average (EMA), as a risk-off impulse triggered a flight to safety, favoring the US Dollar (USD) to the detriment of the Pound Sterling (GBP). Uncertainty about the debt-ceiling negotiations in the United States (US), and mixed US economic data bolstered the US Dollar. The GBP/USD is trading at 1.2414, below its opening price by almost 0.20%. Read More…
The GBP/USD pair comes under some renewed selling pressure on Tuesday and drops to over a one-month low during the first half of the European session. The pair is currently placed just below the 1.2400 round-figure mark, down around 0.35% for the day, confirming a fresh breakdown through the 50-day Simple Moving Average (SMA). Read More…
The GBP/USD pair looks vulnerable above the immediate support of 1.2420 in the early European session. The Cable is struggling in defending the nearest cushion as investors are awaiting the speech from Bank of England (BoE) Governor Andrew Bailey. Read More…

Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-slide-continues-on-us-debt-ceiling-woes-202305231706