The Pound Sterling (GBP) slips below the psychological support of 1.2500 against the US Dollar (USD) in Wednesday’s London session.
The Pound Sterling dips slightly below 1.2500 due to multiple headwinds. Investors expect UK interest rates to remain steady at 5.25% with less-hawkish BoE’s guidance on interest rates. Fed ’s Kashkari supports keeping interest rates steady for the entire year. The Pound Sterling slips below the psychological support of 1.2500 against the US Dollar in Wednesday’s London session.
On Wednesday, Fed Vice Chair Philip Jefferson, President of the Federal Reserve Bank of Boston Susan Collins and Fed Governor Lisa Cook are lined up to provide interest rate guidance. Technical Analysis: Pound Sterling drops below 1.2500 The Pound Sterling falls slightly below the psychological support of 1.2500. The GBP/USD pair is under pressure after facing strong resistance above the neckline of the Head and Shoulder chart pattern formed on a daily timeframe.
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