GBPUSD Chart Technical Outlook trades cautiously ahead of FOMC minutes and UK inflation data
GBP/USD’s broad bias is bullish. Prices have been printing higher highs and higher lows recently, and there is no indication that the rally is over. BoE Governor Andrew Bailey is due to speak later in the day ahead of tomorrow’s inflation data from the UK. The US calendar is light today except for more Fed speakers ahead of tomorrow’s FOMC minutes.
I expect cautious price action going into tomorrow’s events. Any dips could be corrective and find buyers. There are downside barriers at 1.2690 and 1.2645. Resistances are located at 1.2740 and 1.2780.
