GBP/USD is currently facing resistance around the 1.3200 mark in early European trading on Tuesday, as the currency pair consolidates following a sharp pullback from its five-week peak at 1.3276. The pound sterling remains under pressure, largely influenced by the 50-day Simple Moving Average (SMA), which continues to cap its upward momentum.
Traders are closely monitoring the exchange rate for any signs of a breakout or further retracement. The recent volatility underscores the ongoing challenges for the GBP as it navigates market sentiment impacted by economic data and geopolitical factors. With the USD showing resilience, market participants will be watching for potential developments that could shift the trading dynamics in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-12-02 06:31
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.