Fri, Jan 27, 2023 @ 05:33 GMT

GBP/USD Seeks Support

The pound struggles as market sentiment remains cautious with thin liquidity. The pair is still looking to hold onto its gains after clearing last August’s high of 1.2280. Even though short-term buyers have bailed out, the psychological level of 1.2000 has seen an inflow of buying interests. But only a close above 1.2140 would signal confidence in Sterling and help turn the market mood around. 1.1190 is a critical level to keep the directional bias upward in the weeks to come, and its break could trigger a deeper correction.

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