The Pound Sterling (GBP) has bounced back in Tuesday’s London session, reaching 1.2740 after a period of intraday losses. This recovery comes despite disappointing UK employment data for the three months leading up to April and a strong US Dollar (USD) due to expectations that the Federal Reserve (Fed) will postpone any interest rate cuts.
GBP/USD has managed to stabilize above 1.2700 following a bearish start to the week. However, the technical outlook for the pair does not indicate a significant buildup of recovery momentum. This suggests that the Pound Sterling may continue to face challenges in the near future.