• GBP/USD climbed on Wednesday after the Fed cut rates by 50 basis points, citing greater confidence that inflation will continue to trend toward its 2% annual target.
•Half a percentage point rate cut decision reflected the Fed's commitment to supporting the economy while managing inflation expectations.
•Policymakers see the Fed's benchmark rate falling by another half of a percentage point by the end of this year, another full percentage point in 2025.
• At GMT 18:23, the pair was trading up0.82% at 1.3270, highest level 27th August.
• Immediate resistance is located at 1.3280( 23.6%fib), any close above will push the pair towards 1.3305(Higher BB)
• Strong support is seen at 1.3160(38.2%fib) and break below could take the pair towards 1.3115(50%fib).
Recommendation: Good to buy around 1.3250, with stop loss of 1.3180 and target price of 1.3380
