• GBP/USD eased from for four month high on Wednesday after President Trump imposed a 25% tariff on all steel and aluminium imports, including from the U.K.
• U.K. Business Secretary Jonathan Reynolds expressed disappointment but stated there would be no immediate retaliation, as negotiations for a broader economic agreement with the U.S. continue.
. • Investors are closely watching the UK's monthly Gross Domestic Product (GDP) along with Industrial and Manufacturing Production data for January, set for release on Friday.
•The next Bank of England (BoE) meeting is set for March 20, where policymakers will decide on the UK’s monetary policy stance amid ongoing inflation concerns, economic growth uncertainties.
• At GMT 13:52, the pair was trading up 0.38% at 1.2940.
• Immediate resistance is located at 1.2975( 23.6%fib), any close above will push the pair towards 1.3049(Higher BB)
• Strong support is seen at 1.2875(Daily low) and break below could take the pair towards 1.2790(50%fib).
Recommendation: Good to buy around 1.2920, with stop loss of 1.2820 and target price of 1.3000
