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

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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