GBP/USD trades near 1.3435 on Wednesday, steadying after a 1.2% drop Tuesday amid rising geopolitical tensions and safe-haven dollar demand.
The pound stays under pressure ahead of today’s UK inflation report and tomorrow’s BoE decision, where rates are expected to remain at 4.25%. Any inflation surprise could shift market expectations.
Ongoing Middle East conflict continues to support the dollar, while traders also await the Fed’s policy announcement later today, which could influence GBP/USD further.
Resistance is at 1.3600, with support around 1.3425.
The pound stays under pressure ahead of today’s UK inflation report and tomorrow’s BoE decision, where rates are expected to remain at 4.25%. Any inflation surprise could shift market expectations.
Ongoing Middle East conflict continues to support the dollar, while traders also await the Fed’s policy announcement later today, which could influence GBP/USD further.
Resistance is at 1.3600, with support around 1.3425.
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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.