GBPUSD Technical Analysis - We are at a key level ...Middle East

USDThe Fed left interest rates unchanged as expected at the last meeting and dropped the tightening bias in the statement.The US PCE came in line with expectations.The US Jobless Claims missed expectations although the data is still in the recent ranges.The latest US PMIs increased further from the prior month with the Manufacturing PMI beating expectations and the Services PMI missing. The US Consumer Confidence missed expectations across the board.The market expects the first rate cut in June. GBPThe BoE left interest rates unchanged as expected at the last meeting removing the tightening bias but reaffirming that they will keep rates high for sufficiently long to return to the 2% target.

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