The GBP/USD pair advanced to 1.2600 on Monday, rebounding from its multi-month low recorded last Friday. This recovery comes as the U.S. dollar softens, pressured by investor caution ahead of upcoming U.S. economic data and Federal Reserve signals. The pair’s upward momentum reflects a shift in market sentiment after last week’s selloff.
Weaker U.S. dollar dynamics have bolstered the pound, with traders eyeing potential dovish tones from Federal Reserve officials. Meanwhile, the UK’s economic outlook remains uncertain, tempering GBP/USD’s gains. Market participants are now closely monitoring developments that could influence the pair’s trajectory.
