FxWirePro: GBP/USD remains buoyant, looks to extend gains

• GBP/USD strengthened  on Wednesday as greenback weakened   as investors grappled with ongoing uncertainty surrounding U.S. tariff policy.

• Donald Trump delivered his State of the Union address to a joint session of United States Congress. While no major new policy measures were announced.

• Sterling found additional support after Bank of England Governor Andrew Bailey struck a cautious tone on rate cuts, reinforcing the view that policy easing may not be imminent..

• Political risk is also on the radar, with attention turning to Thursday’s Manchester election, which could create further challenges for Prime Minister Keir Starmer.

•   Immediate resistance is located at 1.3542( Daily high), any close above will push the pair towards 1.3600(SMA 20)

•  Strong support is seen at 1.3423(61.8%fib) and break below could take the pair towards 1.3379(Lower BB).

  Recommendation: Good to buy around 1.3500, with stop loss of 1.3430 and target price of 1.3560