The GBP/USD pair is trading in positive territory near 1.3490 during early European hours Thursday, supported by weakness in the US Dollar. The pound maintains a mildly bullish bias despite subdued momentum indicators, with the pair holding above the psychologically important 1.3500 level.
Market participants are now in wait-and-see mode ahead of two critical events that could drive near-term direction. Bank of England Governor Andrew Bailey is scheduled to speak Friday, while US August jobs data will also be released the same day. These events are expected to provide fresh trading catalysts for the currency pair.
The current price action suggests modest sterling strength, though traders appear hesitant to commit to significant positions before the upcoming central bank commentary and employment figures. The weaker dollar has provided support for the pair despite technical indicators showing limited upward momentum.
FXnCO Insight
Hold existing GBP/USD long positions with tight stops below 1.3450 until Bailey’s speech and Friday’s US jobs data clarify directional bias.
Source: FXStreet