Post #15477

GBP/USD Breaks Higher as Dollar Softens Ahead of Key UK Data GBP/USD has broken cleanly above 1.3360, confirming bullish momentum after FOMC. Nearest resistance sits up at 1.3480, where buyers may start to run into profit-taking. As long as price holds above the breakout zone, dips back toward 1.3360 could act as support within this short-term uptrend. The Fed delivered a 25bps cut, but the move was priced in. Forward guidance was net-dovish -- causing USD to push broadly lower. Sterling is holding bid against a softer USD as traders look ahead to a heavy UK data slate. Monthly GDP, followed by next week’s labour market and inflation data, will effectively frame the next BoE decision. Markets see a rate cut as nearly a done deal given weak growth and cooling inflation, but the last meeting was a tight 5–4 hold, and any upside surprise in the data could complicate the dovish narrative. For now, expectations of a controlled, data-dependent easing path are keeping GBP supported against the dollar. - Alan