GBP/USD Price Analysis: Subdued around 1.2700, with bears in charge pre-FOMC decision

The Pound Sterling drops some 0.12% against the US Dollar in early trading during the North American session as traders brace for the Federal Reserve’s monetary policy.

The Pound falls versus Dollar, awaiting Fed policy news. GBP/USD nears 50-day MA; further drops possible as bears target 1.2600. Break below 1.2700 may seek weekly lows, with rebound eyeing March highs. A softer inflation report in the United Kingdom didn’t move the needle in the session, as the GBP/USD trades at 1.2706, with sellers hoping to push prices below the 1.2700 mark.

A further downside is seen at the 100-DMA at 1.2619, ahead of the 1.2600 figure. On the flip side, if buyers reclaim the March 18 high of 1.2746 and break a resistance trendline at around the 1.2745/55 area, expect a recovery toward the 1.2800 mark. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.2703 Today Daily Change -0.0018 Today Daily Change % -0.14 Today daily open 1.2721 Trends Daily SMA20 1.272 Daily SMA50 1.2686 Daily SMA100 1.2626 Daily SMA200 1.

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