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• GBP/USD was little changed on Thursday as traders took a wait-and-see approach after Trump threatened tariffs on Europe.
• U.S. President Donald Trump said he would impose 25% "reciprocal" tariffs on cars and other goods from the European Union.
• Markets will pay close attention to U.S. GDP and durable goods data later on Thursday for potential signs of an economic slowdown.
• On Friday, the focus will shift to the Personal Consumption Expenditure (PCE) index, the Federal Reserve's preferred measure of inflation, which will offer further clues about the Fed’s outlook on inflation and its potential policy adjustments.
• At GMT 10:56, pound was last trading up 0.01% to $1.2674 against dollar.
• Immediate resistance is located at 1.2761(38.2%fib), any close above will push the pair towards 1.2803(Higher BB).
• Support is seen at 1.2629(50%fib) and break below could take the pair towards 1.2575(Feb 19th low).
Recommendation: Be on sidelines
