GBPUSD

Uncertainty dominates the markets ahead of the U.S. Federal Reserve's rate cut decision in September. Expectations for a 100-basis point rate cut by the end of the year are rising, while slowing economic activity in the UK is also in focus. The Bank of England's response to these developments will be crucial for the direction of the GBPUSD pair. Today’s U.S. data release could increase volatility in the pair. On the 4-hour chart, the GBPUSD pair finds support at 1.3134 and 1.3096, while resistance is seen at 1.318 and 1.323. The RSI indicator stands at 60.18, indicating the upward momentum is still in play. The pair is trading at 1.31774, down by 0.01% from the previous day Support:1.3134 - 1.3096 - 1.304 Resistance:1.318 - 1.323 - 1.328