The GBP/USD currency pair traded slightly above the 1.3200 level during the early European session on Friday, showing a positive bias but lacking strong bullish momentum, according to FX Street.
Market analysts Quek Ser Leang and Lee Sue Ann from United Overseas Bank noted that the pair did not test the major support at 1.3110. Instead, it rebounded from a low of 1.3152 to a high of 1.3218 before closing near 1.3190, remaining within a narrow range throughout the session.
For Japanese investors, the GBP/USD's cautious movement highlights ongoing uncertainty in currency markets amid global economic factors, suggesting traders may continue to favor range-bound strategies in FX trading.