Pound Sterling Price News and Forecast: GBP/USD remains on track to post weekly gains

GBP/USD Forecast: Pound Sterling remains on track to post weekly gains

GBP/USD moves sideways in a tight channel above 1.3250 in the European session on Friday after posting small gains on Thursday. The pair remains on track to end the week in positive territory.

The US Dollar (USD) Index, which tracks the USD’s performance against a basket of six major currencies, closed marginally higher on Thursday, supported by the upbeat weekly Initial Jobless Claims data. The number of first-time applications for unemployment benefits declined to 215,000 from 224,000 in the previous week. (USD) limits the pair’s upside. Read more…