GBP/USD traded around 1.2830 on Wednesday, holding gains from the previous session. However, ongoing global trade tensions and fears of goods dumping from China and Europe weighed on sentiment. Though U.S. tariffs are relatively lower on the UK, broader economic concerns persist. At the same time, rising inflation risks may lower expectations for rate cuts, providing some support to the pound.
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.