GBP/USD HITS NEW HIGH: THE POUND DEFIES MARKET PRESSURES
GBP/USD HITS NEW HIGH: THE POUND DEFIES MARKET PRESSURES
On April 22, 2025, the GBP/USD pair surged to a seven-month high, briefly touching $1.34. This rally was driven by optimism surrounding potential de-escalation in U.S.-China trade tensions.
The Bank of England (BoE) maintained its key interest rate at 5.25%, signaling a "higher for longer" stance on rates.
This decision, along with indications of future tightening if inflation persists, has strengthened the pound.
The U.S. dollar remains under pressure due to global economic uncertainties, including the IMF's reduced growth forecast and ongoing trade tensions.
These factors have led investors to seek safer assets, contributing to the dollar's decline.
The GBP/USD pair is approaching significant resistance levels.
A breakout above these levels could signal further bullish momentum, while failure to do so may lead to consolidation or pullback.
Traders are closely monitoring upcoming U.S. economic data, including jobless claims and non-farm payroll reports, which could influence the Federal Reserve's policy decisions and impact the GBP/USD pair.
