GBP/USD prolongs its falls past the 1.2400 figure, reaching a new three-week low at around 1.2397, as the Pound Sterling takes a hit, taking advantage of a light economic calendar in the United Kingdom (UK). Fears of a possible default in the United States (US) are fading, as talks between US Congress leaders and the White House showed hope that an agreement would emerge before June 1. The GBP/USD is trading at 1.2423 after hitting a daily high of 1.2492. Read More…

The GBP/USD pair comes under intense selling pressure on Thursday and drops to over a three-week low, around the 1.2415-1.2410 region during the early North American session. Read More…

In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD could retreat further and break below the 1.2400 support in the near term. Read More…