FxWirePro: GBP/USD steady but trend lower looks likely to resume

• GBP/USD started strong on Tuesday but gave up some earlier ground as optimism around Trump easing tariffs faded.

•  Looking ahead, market participants are awaiting the Bank of England's policy meeting later this week.

•  The BoE  is widely expected to cut rates by 25 basis points (bps) on Thursday, could nudge investors to expect faster rate reductions.

• At GMT 11:11, the pair was trading down 0.2% at 1.2422

•   Immediate resistance is located at 1.2511( 50%fib), any close above will push the pair towards 1.2595(Higher BB)

•  Strong support is seen at 1.2400(38.2%fib) and break below could take the pair towards 1.2226(23.6%fib).

  Recommendation: Good to sell  around 1.2430, with stop loss of 1.2480 and target price of 1.2360