The GBP/USD pair edged higher from its multi-month low on Friday but failed to reclaim significant ground, staying below the mid-1.2600s. The slight recovery comes as the U.S. dollar maintained its dominance, bolstered by hawkish Federal Reserve expectations and robust economic data. Despite the recent uptick, the pair’s movements suggest limited bullish traction as traders remain cautious.
Persistent pressure on the British pound reflects growing concerns over the U.K.’s economic trajectory, particularly amid subdued retail sales and stagnating growth. Analysts suggest that the pair may struggle to sustain recovery unless clearer signals emerge from both the Bank of England and global markets. For now, GBP/USD hovers near its recent lows, underscoring uncertainty in the broader forex market.
