The GBP/USD pair is seen building on the previous day's bounce from sub-1.
GBP/USD scales higher during the Asian session on Thursday and draws support from a weaker USD. Expectations that the Fed is done raising rates and declining US bond yields weigh heavily on the buck. A positive risk tone further undermines the safe-haven USD as the focus now shifts to the BoE meeting. 2100s and gaining some follow-through positive traction during the Asian session on Thursday. The momentum lifts spot prices to the top end of the weekly range, closer to the 1.
Apart from this, a generally positive tone around the equity markets turns out to be another factor undermining the safe-haven Greenback and lending support to the GBP/USD pair. It, however, remains to be seen if bulls are able to capitalize on the move up or opt to wait on the sidelines as the focus shifts to the Bank of England policy meeting later today.
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