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The GBP/USD pair remains range-bound during the Asian session on Thursday, hovering near the previous day's weekly high despite minor fluctuations. The pound faces challenges from geopolitical tensions in the Iran region and the Federal Reserve's hawkish stance, which supports the US dollar. Market participants are closely monitoring these factors for potential impacts on the currency pair's direction. For traders, the lack of clear momentum in GBP/USD presents a low-volatility environment, making it difficult to establish directional bias. The Fed's potential rate hike trajectory and Middle East developments could introduce volatility in the coming weeks. Investors should watch for updates on Iran-related developments and Fed officials' comments on inflation and monetary policy.
