GBP/USD Retreats from One-Week Top as USD Firms; 1.3300 Holds Key
The GBP/USD pair edged lower in Asian trading on Tuesday, reversing part of Monday's rally to a one-week high, as the U.S. dollar strengthened. The 1.3300 level is seen as a crucial support.
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The British pound slipped against the U.S. dollar during the Asian session on Tuesday, giving back some of the gains from the previous day's move to a one-week peak.
The pullback was attributed to a firmer U.S. dollar, with the 1.3300 level now acting as a key support for the pair. A break below this level could open the door to further losses, while a rebound from here may attract buyers.
Traders are watching for any fresh catalysts from the economic calendar or central bank commentary later in the session.
Source: FXStreet Forex News