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
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