Post #15252

Pound Pushes Higher After BoE’s “Wait and See” Tone GBP/USD is up roughly 0.51% on the day, currently trading near 1.3110 and approaching key resistance around 1.3150, where selling pressure is expected to emerge. The pound gained traction following the Bank of England’s latest policy update. The BoE held interest rates at 4.00%, but Governor Bailey emphasized a “wait and see” approach — noting that while inflation has cooled, more evidence is needed to confirm CPI is firmly on track to 2%. He acknowledged softer employment data and subdued business activity, while warning that inflation could remain sticky due to labor costs and energy prices. This cautious tone reduced near-term expectations for rate cuts, providing short-term support for the pound. If price clears 1.3150, GBP/USD could extend gains toward 1.3250 or higher as traders unwind dovish bets. Conversely, failure to break resistance could trigger profit-taking, sending the pair back toward 1.3000.