The British pound fell to $1.28, its lowest since March 4, as Trump’s trade policies fueled recession fears. After China imposed 34% tariffs on U.S. goods, markets raised BoE rate cut bets. Traders now price in 88 bps of cuts by December, up from 43 bps in March, with a 90% chance of a 25bps cut in May.
If GBP/USD breaks above 1.2850, resistance levels are at 1.2900 and 1.2940. Support is at 1.2715, followed by 1.2650 and 1.2600.
If GBP/USD breaks above 1.2850, resistance levels are at 1.2900 and 1.2940. Support is at 1.2715, followed by 1.2650 and 1.2600.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.