GBP/USD Market Update With Forex Trading Tips

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The GBP/USD pair embarks upon a corrective mode on Wednesday, after having faced fresh offers at 50-DMA, as the bulls consolidate the recent massive upsurge. 

GBP/USD back below 1.2400, where 50-DMA intersects:

GBP/USD surrenders 1.24 handle and now looks to stabilize around the mid-point of 1.23 handle amid renewed USD buying, as the treasury yields attempt minor-recovery from yesterday’s steep drop sparked by Trump’s comments on recent USD appreciation.

Currently the exchange rate of GB/PUSD is 1.2333.

Our Recommendation:
As the GBP/USD pair is going down in forex market, it is recommended to sell.

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