GBP/USD Price Analysis: Mean reversion to near 20-EMA around 1.2050 looks likely

The GBP/USD pair has extended its losses below 1.2230 in the Asian session after failing to sustain above the round-level resistance of 1.2300. The Cable is facing the heat of risk-aversion theme as investors are getting anxious ahead of the monetary policy announcement by the Federal Reserve (Fed) and the Bank of England (BOE).

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GBP/USD Weekly Forecast: Pound Sterling looks north, gearing up for a critical week

GBP/USD ended the week almost unchanged, snapping a fourth straight weekly advance after being unable to find acceptance above the 1.2350 threshold. A pause in the recent United States Dollar (USD) decline capped the upside in the Pound Sterling amid a relatively quiet week, as traders geared up for a critical week ahead.

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This article was originally published by Fxstreet.com.Read the original article here.

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