The GBP/USD currency pair traded within a tight range near 1.32 to 1.33 on Monday as market participants continued to weigh the potential path of US Federal Reserve interest rate hikes. Early European trading saw the pair around 1.3240, with a modest upward bias as the US dollar softened against the British pound.
According to FX Street (UOB), the price action appears to be range-bound following Friday’s close at 1.3234, with an expected intraday range between 1.3215 and 1.3260. The pair remains near its 100-day simple moving average, indicating a cautious market stance amid ongoing uncertainty about the Fed’s next moves.
For Japanese investors, this range-bound behavior highlights the importance of monitoring US monetary policy developments closely, as fluctuations in GBP/USD can influence broader FX market volatility and risk sentiment in Asia.