FxWirePro: GBP/USD retreats slightly but trend is still bullish

• GBP/USD edged lower on Friday  as market participants remained cautious amid mixed economic and political signals.

• Attempts to rally toward 1.3700 continue to face selling pressure, driven by expectations of a dovish stance from the Bank of England.

• The UK economy showed minimal growth in Q4, with budget uncertainties weighing on investor sentiment and limiting optimism for sterling.

• Easing political tensions are currently providing some support, but risks remain that uncertainties could resurface and weigh on the currency.

• Key upcoming data includes U.S. CPI on Friday, crucial for Federal Reserve rate expectations, while UK unemployment and inflation figures are due next week, likely influencing GBP sentiment.

•   Immediate resistance is located at 1.3633(SMA 20), any close above will push the pair towards 1.3716(38.2%  fib)

•  Strong support is seen at 1.3580 (50%  fib) and break below could take the pair towards 1.3508(Feb 6th low).

  Recommendation: Good to buy  around 1.3580 with stop loss of 1.3530 and target price of 1.3660