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GBPUSD Analysis

Markets loosely expect the BoE to end its rate-cutting cycle at around the 3.5% mark, 150bps lower than the current level. In the meantime, investors assessed the fiscal outlook brought by the UK’s new government, and how spending cuts and tax hikes signaled by the Labour Party in the upcoming year’s budget may impact growth concerns.

STRATEGY - SELL ON RISE

TREND - 4HR - DOWNTREND

Support 1 - 1.3010

Support 2 - 1.2950

Resistance 1 - 1.3093

Resistance 2 - 1.3140