GBP/USD trades around 1.2960 in Thursday’s Asian session, extending gains for a third day as the US Dollar weakens with recession fears linked to Trump’s policies.
The dollar faces further pressure after February inflation slowed more than expected, raising speculation of an earlier Fed rate cut. Headline inflation fell from 0.5% to 0.2% monthly and from 3.0% to 2.8% yearly, while core inflation dropped to 0.2% monthly and 3.1% yearly. Markets now await US PPI and jobless claims data for further economic signals.
If GBP/USD breaks above 1.2980, the next resistance levels are 1.3050 and 1.3100. On the downside, support stands at 1.2860, with further levels at 1.2760 and 1.2660 if selling pressure increases.
The dollar faces further pressure after February inflation slowed more than expected, raising speculation of an earlier Fed rate cut. Headline inflation fell from 0.5% to 0.2% monthly and from 3.0% to 2.8% yearly, while core inflation dropped to 0.2% monthly and 3.1% yearly. Markets now await US PPI and jobless claims data for further economic signals.
If GBP/USD breaks above 1.2980, the next resistance levels are 1.3050 and 1.3100. On the downside, support stands at 1.2860, with further levels at 1.2760 and 1.2660 if selling pressure increases.
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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.