The GBP/USD pair traded slightly higher near 1.3387 during the European session on Thursday, as the US Dollar weakened despite an increase in oil prices, according to FX Street.
Market analysts Quek Ser Leang and Lee Sue Ann from United Overseas Bank expect the pair to consolidate within a narrow range between 1.3350 and 1.3400 intraday, following a modest pullback from recent lows.
For Japanese investors, the GBP/USD movement highlights continued caution in currency markets, which may influence FX trading strategies amid ongoing volatility in global energy prices and the US Dollar's performance.