GBPUSD

The Sterling/Dollar exchange rate fell to 1.2610 with a decrease of 0.5% following the FOMC minutes. Despite signs of recovery in the UK economy, expectations that the US may continue its tight monetary policy are putting pressure on the exchange rate. The expectation that the BoE will initiate interest rate cuts later than the ECB provides limited support for the pound, while 1.2580 stands out as an important support level and 1.2980 as a resistance level. US-China trade tensions may increase risk perception, thereby increasing pressure on GBP.