Corrective pullback could be seen as a buying opportunity
The GBP/USD pair dropped to fresh daily lows, around 1.3765-60 region during the early part of the European session and has now eroded a part of the overnight gains to one-month tops.
A combination of factors failed to assist the GBP/USD pair to capitalize on its modest intraday uptick on Wednesday, instead prompted some selling around the 1.3815 region. The British pound was weighed down by a softer-than-expected UK CPI print for September. Apart from this, a goodish pickup in the US dollar demand extended some downward pressure on the major.
The GBP/USD pair dropped to fresh daily lows, around 1.3765-60 region during the early part of the European session and has now eroded a part of the overnight gains to one-month tops.
A combination of factors failed to assist the GBP/USD pair to capitalize on its modest intraday uptick on Wednesday, instead prompted some selling around the 1.3815 region. The British pound was weighed down by a softer-than-expected UK CPI print for September. Apart from this, a goodish pickup in the US dollar demand extended some downward pressure on the major.