GBP/USD Price Analysis: The green is trying to stay above 1.2000.

 

Durable Goods Orders underperformed in November as US PCE inflation declined as expected. GBP/USD is having trouble holding onto the 1.2000 level as demand for US Dollars rises. Demand for US dollars rises in anticipation of the holiday weekend.

GBP/USD pared losses and teetered on day highs after a brief decline to 1.2022, a new daily low. It trades in the 1.2040 price range as speculative interest continues to process mixed macroeconomic data from the United States. On the other hand, the Personal Consumption Expenditures (PCE) Price Index shows lower inflationary pressures in the nation, which increased 5.5% YoY in November from 6.1% in October.

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