GBPUSD Chart Technical Outlook remains supported by the positive market mood, above 1.3335, the 1.3400 will be targeted.
The Pound keeps trading on an upward-moving channel fuelled by monetary policy divergence between the BoE and the Fed and the positive market sentiment.
The Fed cut rates by 50 basis points and highlighted its commitment to support the economy, boosting investors’ appetite for risk. The BoE, on the other hand, kept its borrowing costs unchanged, as inflation pressures remained high, boosting the Pound across the board.
In the calendar today, preliminary PMI figures in the UK and the US will provide more clues on the economic outlook. In the US session, Fed officials Bostic, Goldsbee, and Kashkari will meet the press.
The positive risk sentiment maintains the Sterling right below long-term highs at 1,3335. Above here, the next target would be at the 1.3400 area. Supports are at 1.3270 and 1.3155.
