GBP/USD holds positive ground below the mid-1.2500s

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<h2>GBP/USD Forecast: Pound Sterling remains on track to post weekly gains against US Dollar</h2>
<p>GBP/USD holds steady at around 1.2550 on Friday after posting modest gains on Thursday. The pair&#8217;s technical outlook suggests that the bullish bias remain intact heading into the weekend.</p>
<p><strong>Upbeat PMI readings from the UK, which showed that the private sector moved back into the expansion territory in early November, </strong>helped <a href="https://www.fxstreet.com/currencies/gbpusd">Pound Sterling</a> stay resilient against its rivals on Thursday. Nevertheless, thin trading conditions on Thanksgiving Day didn&#8217;t allow GBP/USD to gather bullish momentum. <a href="https://www.fxstreet.com/analysis/gbp-usd-forecast-pound-sterling-remains-on-track-to-post-weekly-gains-against-us-dollar-202311240857" target="_blank" rel="noopener">Read more&#8230;</a></p>
<p><a href="https://editorial.fxstreet.com/miscelaneous/recap-638364232929361512.png" target="_blank" rel="noopener"><img decoding="async" alt="GBPUSD" src="https://editorial.fxstreet.com/miscelaneous/recap-638364232929361512.png" style="width: 1640px; height: 748px;" /></a></p>
<h2>GBP/USD Price Analysis: Holds positive ground below the mid-1.2500s, further upside looks favorable</h2>
<p>The GBP/USD pair gains ground to a two-month high of 1.2575 and then pulled back to 1.2540 during the Asian trading hours on Friday. <strong>The uptick of the pair is supported by the stronger-than-expected UK S&amp;P Global/CIPS PMI data for November. </strong>The attention will shift to the US S&amp;P Global <a href="https://www.fxstreet.com/economic-calendar/united-states">PMI</a> data, due later on Friday. <a href="https://www.fxstreet.com/news/gbp-usd-price-analysis-holds-positive-ground-below-the-mid-12500s-further-upside-looks-favorable-202311240617" target="_blank" rel="noopener">Read more&#8230;</a></p>
<p><a href="https://editorial.fxstreet.com/miscelaneous/recap2-638364233122500994.png" target="_blank" rel="noopener"><img decoding="async" alt="GBPUSD" src="https://editorial.fxstreet.com/miscelaneous/recap2-638364233122500994.png" style="width: 1494px; height: 656px;" /></a></p>
<h2>GBP/USD: Limited upside potential, market has BoE’s rather hesitant approach at back of its mind – Commerzbank</h2>
<p>GBP/USD has returned more or less to <strong>the levels seen prior to the announcement of renewed tax cuts on Wednesday.</strong> Economists at Commerzbank analyze the pair’s outlook. <a href="https://www.fxstreet.com/news/gbp-usd-limited-upside-potential-market-has-boes-rather-hesitant-approach-at-back-of-its-mind-commerzbank-202311241126" target="_blank" rel="noopener">Read more&#8230;</a></p>
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<br /><a href="https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-holds-positive-ground-below-the-mid-12500s-202311241150">Source link </a></p><p>The post <a href="https://forextraderhub.com/gbp-usd-holds-positive-ground-below-the-mid-1-2500s.html">GBP/USD holds positive ground below the mid-1.2500s</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>