GBP/USD Drops from Three-Week High Amid Tariff and Rate Speculat
The British Pound fell to $1.244 from a three-week high after Trump’s tariff threats on semiconductors, pharmaceuticals, and steel fueled dollar strength. Markets focused on central bank policies, with the Fed expected to hold rates and the ECB likely to cut by 25bps. In the UK, the BoE is still expected to cut rates in February despite strong PMI data.
The first resistance level for the pair will be 1.2460. In the event of this level's breach, the next levels to watch would be 1.2500 and 1.2600. On the downside 1.2420 will be the first support level. 1.2350 and 1.2265 are the next levels to monitor if the first support level is breached.
The first resistance level for the pair will be 1.2460. In the event of this level's breach, the next levels to watch would be 1.2500 and 1.2600. On the downside 1.2420 will be the first support level. 1.2350 and 1.2265 are the next levels to monitor if the first support level is breached.
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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.