• GBP/USD firmed on Wednesday as the dollar slipped, surrendering some of Tuesday’s gains after Trump dropped plans to oust the Fed chair and struck a softer tone on China.
• Investors have been jittery after Trump repeatedly blasted Fed Chair Jerome Powell for refusing to cut rates without data support.
• Treasury Secretary Scott Bessent said Wednesday that U.S.–China tariffs are unsustainable, echoing signs the administration may ease the trade war that’s stoked recession fears.
• China’s Commerce Ministry said Thursday that if the United States genuinely wants to resolve their trade dispute, it must remove all unilateral tariffs on Chinese goods.
• At GMT 11: 27, the pair was trading up 0. 42% at 1.3318
• Immediate resistance is located at 1.3336 (38.2%fib), any close above will push the pair towards 1.3453(23. 8%fib)
• Strong support is seen at 1.3238 (50%fib) and break below could take the pair towards 1.3146(61.8%fib).
Recommendation: Good to buy around 1. 3300, with stop loss of 1.3100 and target price of 1.3380
