$GBPUSD Forecast: Pound recovery unlikely in current risk-averse environment by forexcrunch forex trading
Near-term support for GBP/USD seems to have formed at 1.3340.GBP/USD has started the new week on the back foot pressured by another bout of flight to safety amid escalating geopolitical tensions. The pair is likely to face additional bearish pressure in case sellers drag it below 1.3340.
The market reaction to geopolitics has been straightforward since last week. The greenback outperforms the major European currencies when safe-haven flows dominate the action and it loses strength when market participants turn optimistic for a de-escalation of the conflict.
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