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FxWirePro: GBP/USD dips as dollar gains on safe-haven demand

• GBP/USD dipped on Tuesday as the U.S. dollar strengthened as investor concerns over a prolonged U.S. government shutdown drove demand for safe-haven assets. • Investors were left without official U.S. economic data on …

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FxWirePro: GBP/USD dips as dollar gains on safe-haven demand
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• GBP/USD dipped on Tuesday as the U.S. dollar strengthened as investor concerns over a prolonged U.S. government shutdown drove demand for safe-haven assets.

• Investors were left without official U.S. economic data on Tuesday as the government shutdown entered its seventh day, forcing reliance on private-sector indicators to guide expectations for Fed rate cuts..

• Bank of England officials Huw Pill and Catherine Mann, who both backed last month’s decision to hold rates, are scheduled to speak this week Pill on Wednesday and Mann on Thursday.

• The Bank of England warned on Wednesday that global markets could face steep declines if investor confidence falters over artificial intelligence prospects or doubts about the Federal Reserve’s independence.

•   Immediate resistance is located at 1.3486(SMA 20), any close above will push the pair towards 1.3548(38.2%fib)

•  Strong support is seen at 1.3389(50%fib) and break below could take the pair towards 1.3338(Lower BB).

  Recommendation: Good to sell around 1.3420 , with stop loss of 1.3500 and target price of 1.3320

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