• GBP/USD edged lower on Thursday as traders assessed key monetary policy decisions from major central banks and the UK’s economic outlook.
• The U.S. Federal Reserve held interest rates as expected and stated that it is in no rush to cut rates again.
• The European Central Bank is widely expected to reduce rates at 1315 GMT on Thursday, in a reflection of the slowing euro zone economy and cooling inflationary pressures.
• President Donald Trump's policies remain a risk for market, and Saturday is likely to see new tariffs slapped on Canada, Mexico and possibly China.
• Immediate resistance is located at 1.2514 (61.8%fib), any close above will push the pair towards 1.2561(Higher BB).
• Support is seen at 1.2403(50%fib) and break below could take the pair towards 1.2299(38.2%fib).
Recommendation: Good to sell around 1.2430 with stop loss of 1.2480 and target price of 1.2360
