GBP/USD remains below Friday’s three-year high, trading around the mid-1.3500s in a narrow range during Monday’s Asian session. The pair shows limited downside as traders await a busy week of key data and central bank decisions.
Markets are watching the UK CPI on Wednesday and the Bank of England’s policy announcement on Thursday, both crucial for the Pound. The US Federal Reserve will also decide on rates Wednesday, likely guiding the dollar’s short-term path.
Friday’s UK GDP showed a 0.3% contraction in April, increasing bets on faster BoE rate cuts. The USD is supported by safe-haven flows due to Middle East tensions, though soft US inflation data has raised expectations for Fed cuts by September. A broadly positive global risk mood is offering some support to GBP/USD.
Resistance is at 1.3600, with support around 1.3425.
Markets are watching the UK CPI on Wednesday and the Bank of England’s policy announcement on Thursday, both crucial for the Pound. The US Federal Reserve will also decide on rates Wednesday, likely guiding the dollar’s short-term path.
Friday’s UK GDP showed a 0.3% contraction in April, increasing bets on faster BoE rate cuts. The USD is supported by safe-haven flows due to Middle East tensions, though soft US inflation data has raised expectations for Fed cuts by September. A broadly positive global risk mood is offering some support to GBP/USD.
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.