The Pound Sterling has remained relatively stable against the US Dollar, with the GBP/USD pair trading near 1.3200. The market’s focus is now on the upcoming release of US economic data, which could provide insights into the Federal Reserve’s monetary policy outlook.
The Bank of England (BoE) is expected to maintain a cautious approach to interest rate cuts, with the market pricing in a rate cut in November. However, the BoE’s decision will ultimately depend on the economic data and the evolving inflationary environment.
GBP/USD Technical Outlook
The GBP/USD pair has shown a bullish trend, with the potential for further gains. The 1.3200 level is acting as a key support, with potential resistance at the 1.3300 level. A break above 1.3300 could signal a continuation of the upward trend, with potential targets at the year-to-date high and beyond.
