GBP/USD held near 1.3000 as sentiment stayed upbeat after the Fed reaffirmed 2025 rate cuts, though delayed. Markets still expect a 25 bps cut in June, with Powell highlighting strong US growth and a healthy labor market.
The Fed lowered its 2025 GDP forecast to 1.7% from 2.1% and acknowledged trade policy risks but sees inflationary effects as short-lived.
Focus now shifts to the BoE’s Thursday rate decision, with no changes expected. On Friday, the UK’s GfK Consumer Confidence is projected to fall to -21.0 from -20.0.
If GBP/USD breaks above 1.3050, the next resistance levels are 1.3100 and 1.3150. On the downside, support stands at 1.2860, with further levels at 1.2800 and 1.2715 if selling pressure increases.
The Fed lowered its 2025 GDP forecast to 1.7% from 2.1% and acknowledged trade policy risks but sees inflationary effects as short-lived.
Focus now shifts to the BoE’s Thursday rate decision, with no changes expected. On Friday, the UK’s GfK Consumer Confidence is projected to fall to -21.0 from -20.0.
If GBP/USD breaks above 1.3050, the next resistance levels are 1.3100 and 1.3150. On the downside, support stands at 1.2860, with further levels at 1.2800 and 1.2715 if selling pressure increases.
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.
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.