The post Trade below 1.3500; bullish bias remains ahead of US PCE data appeared on BitcoinEthereumNews.com.

GBP/USD ticks lower amid the emergence of some USD dip-buying ahead of the US PCE Price Index.   The divergent Fed-BoE policy expectations should help limit any meaningful downfall for the major. Traders might also opt to wait for the release of the US inflation report before placing fresh bets. The GBP/USD pair attracts fresh sellers following the previous day’s goodish rebound from the 1.3415 area, or the weekly low amid a modest US Dollar (USD) uptick. Spot prices currently trade around the 1.3475-1.3470 region, down 0.15% for the day, though the downside seems limited as traders might opt to wait for the release of the US Personal Consumption Expenditure (PCE) Price Index. Heading into the key data risk, some repositioning trade assists the USD to regain positive traction following the previous day’s dramatic turnaround from over a one-week high and exerts some pressure on the GBP/USD pair. However, bets that the Federal Reserve (Fed) will lower borrowing costs further in 2025 and US fiscal concerns might cap the USD. Furthermore, speculations that the Bank of England (BoE) would pause at its next meeting on June 18 and take its time before lowering borrowing costs further should act as a tailwind for the British Pound (GBP). Meanwhile, oscillators on hourly charts have been gaining some negative traction and back the case for a further intraday slide. However, technical indicators on the daily chart are holding comfortably in positive territory. Moreover, the overnight bounce from the 38.2% Fibonacci retracement level of the recent move up from the monthly low favors the GBP/USD bulls. Hence, any subsequent fall might still be seen as a buying opportunity near the 1.3425-1.3415 region, which if broken might prompt some technical selling and pave the way for deeper losses. The GBP/USD pair might then extend this…

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Filed under: News - @ May 30, 2025 6:27 am