GBPUSD: BUY 1.2630, SL 1.2560, TP 1.2700 | 19 Febrero 2025
19 Febrero 2025, GBP/USD
Event to pay attention to today:
21:00 EET. USD - FOMC Meeting Minutes
GBPUSD:
The GBP/USD pair remains resilient after losses in the previous session, trading around 1.2610 during the Asian session on Wednesday. Traders are awaiting the release of January Consumer Price Index (CPI) data from the United Kingdom (UK).
The U.S. Dollar Index (DXY), which measures the dollar against six major currencies, fell to 107.00. Meanwhile, U.S. Treasury yields are at 4.30 per cent for the 2-year bond and 4.54 per cent for the 10-year bond at the time of writing.
On Tuesday, San Francisco Fed Chair Mary Daly noted that while economic conditions in the US remain positive, the outlook for rate cuts in 2025 remains uncertain. Philadelphia Fed President Patrick Harker emphasised the need for a stable interest rate policy, citing lingering concerns about inflation.
However, the dollar could strengthen again amid a shift in risk sentiment following new tariff threats from US President Donald Trump.
Trading recommendation: BUY 1.2610, SL 1.2560, TP 1.2700
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