FxWirePro: GBP/USD edges lower amid geopolitical tensions and inflation fears

• GBP/USD edged lower on Tuesday as Geopolitical tensions continued ⁠to ​weigh on   investor sentiment  as oil prices hit multi-week ​highs

• Oil prices climbed to multi-week highs after Iran-backed Houthis attacked Saudi energy facilities, while Tehran threatened the United States with “economic warfare,” intensifying concerns over potential disruptions to regional energy supplies ".

• Rising oil prices have intensified inflation concerns, pushing global bond yields to multi-month highs and putting further pressure on risk-sensitive assets..

• Markets are pricing in a 60% probability of a U.S. interest-rate hike next week, while traders expect the Bank of England (BoE) to keep interest rates unchanged..

• BoE Governor Andrew Bailey said the market’s interest-rate expectations curve reflected a “risk premium,” as investors remained concerned that further increases in energy prices could add to inflationary pressures.

•A key U.S. ​inflation report and ​economic growth data ⁠in the UK due later this week could influence these bets.

•   Immediate resistance is located at 1.3554(SMA 20), any close above will push the pair towards 1.3593(61.8%fib)

•  Strong support is seen at 1.3453(50%  fib) and break below could take the pair towards 1.3432(Lower BB

  Recommendation: Good to sell around 1.3560, with stop loss of 1.3660 and target price of 1.3480