UK Inflation

GBP/USD is attempting to build a base above 1.3200 after a shift in Federal Reserve rate expectations softened the US Dollar backdrop. Technical traders are watching 1.3250 as the next key resistance level that could clarify whether a broader bullish reversal is underway.

GBP/USD remains under pressure as a stronger US dollar, rising Treasury yields, and weaker risk sentiment weigh on sterling. Technical traders are watching 1.3250 as a key resistance zone and 1.3200 as the support level that could decide the next move.

GBP/USD remains under pressure as a firmer US Dollar, elevated US Treasury yields and expectations for additional Federal Reserve tightening keep sellers in control. Technical traders are watching support near 1.3200 and the longer-term 1.3140 to 1.3160 zone for signs of either continuation or reversal.

GBP/USD has steadied after recent Federal Reserve and Bank of England decisions, trading near 1.3395 after rebounding from this month’s low of 1.3336. Technical traders are weighing a small double-bottom pattern against continued pressure below the Supertrend indicator, leaving 1.3300 in focus for bears.

The U.S. Dollar Index remains fragile near 99.55 as traders await July Fed minutes for fresh signals on rates and inflation. EUR/USD and GBP/USD are holding firm above key trendline and EMA support zones, with policy divergence setting the tone for August 19 trading.

The U.S. Dollar Index lost ground even as Treasury yields and oil prices rose, leaving traders focused on resistance at 101.15 to 101.30. EUR/USD found support ahead of the ECB decision, while GBP/USD reacted to UK inflation data and USD/JPY stayed close to 163.00 amid intervention concerns.