December 10, 2024 – Written by Frank Davies
STORY LINK GBP/USD Stalls Close to 1.2800
The Pound to Dollar (GBP/USD) exchange rate has tested the 1.2800 level over the past 24 hours, but failed to break through and retreated to just below 1.2750 on Tuesday.
Another warning over fiscal policy from Chancellor Reeves had some impact in curbing Pound demand and the global dimension was also less favourable with equities moving lower.
Scotiabank commented; “Sterling tested the 200-day MA (1.2822) effectively last week. Regaining the low 1.28 region on a sustained basis would suggest a new, slightly…
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