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EDGE Chart of the Day – GBPUSD – (January 24th, 2025)
The GBP/USD (Cable) has been rebounding from recent lows over the past several days and is now testing the descending channel’s trendline resistance at 1.2440—a critical pivot level for the pair.
What’s next for GBPUSD after the Bank of England interest rate cut?
Macro Update for GBPUSD following the August BOE meeting
The Bank of England voted 5-4 to cut rates at its August meeting. The decision once again was finely balanced.
Some on the MPC felt that enough progress had been made to start reducing restrictiveness, whilst others thought that more caution was needed.