Pound Sterling: Damage to Technical Outlook say Analysts

Pound Sterling: Damage to Technical Outlook say Analysts

January 3, 2025 – Written by Frank Davies

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The British Pound Sterling (currency:GBP) came under sustained pressure on Thursday, with the pound-to-dollar (GBP/USD) exchange rate sliding to 8-month lows just above 1.2350.

European currencies were sold heavily overall, while the dollar maintained a strong tone.

The Pound also continued its dismal new-year run with GBP/USD weakening on the first trading day for the seventh successive year.

There was limited…
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