FxWirePro: GBP/USD edges lower ahead of Fed policy verdict

• GBP/USD dipped   as ​investors monitored developments in the Middle East and awaited the U.S. ​Federal Reserve's interest rate decision later in the day.

• U.S. launched its first airstrikes in the Middle East since suspending its bombing campaign ‌last ⁠week, hitting Iran-backed groups in Iraq jointly with Saudi Arabia, while Tehran rejected an Omani plan to manage the Strait of Hormuz...

• The U.S. Fed is expected to hold rates steady on Wednesday, with Chair Kevin Warsh's statement watched ​for policy clues, while the ​Bank of ⁠England is due to announce its decision on Thursday.

•Markets largely expect policymakers to leave rates unchanged, any surprise rate hike or a more hawkish policy message could trigger broad-based dollar strength.

•   Immediate resistance is located at 1.3310(Daily high), any close above will push the pair towards 1.3381(50%fib)

•  Strong support is seen at 1.3277(38.2%fib) and break below could take the pair towards 1.3219(Lower BB).

  Recommendation: Good to sell  around 1.3300, with stop loss of 1.3370 and target price of 1.3240