• GBP/USD eased on Tuesday as traders focused on upcoming Fed and BoE rate decisions.
• The Fed is expected to begin a series of rate cuts on Wednesday, after raising borrowing costs to their highest level in nearly two decades.
• The Bank of England is widely expected to maintain interest rates on Thursday, following a 25-basis-point cut last month.
• At GMT 15:31, the pair was trading down 0.37% at 1.3168, retreating from daily high 1.3236.
• Immediate resistance is located at 1.3236( 23.6%fib), any close above will push the pair towards 1.3281(Higher BB)
• Strong support is seen at 1.3117(38.2%fib) and break below could take the pair towards 1.3010(50%fib).
Recommendation: Good to buy around 1.3160, with stop loss of 1.3080 and target price of 1.3230
