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2025-09-18 11:24:25
GBP/USD consolidates as the market awaits the Bank of England's interest rate decision. 1. During Thursday's Asian trading session, GBP/USD remained stable, currently trading around 1.3627. Investors adjusted their positions following the Federal Reserve's FOMC meeting and focused on the Bank of England's interest rate decision, due at 7:00 PM Beijing time. The market generally expects the Bank of England to maintain its benchmark interest rate at 4%. 2. The Federal Reserve announced a 25 basis point interest rate cut on Wednesday, lowering the federal funds target rate range to 4.00%-4.25% and signaling a dovish stance on fourth-quarter monetary policy. Chairman Powell described the rate cut as a "risk management" measure. 3. In addition to central bank policy, the market is also focused on US initial jobless claims data (survey forecasts suggest 240,000) due later Thursday, and UK retail sales data for August (expected to rise 0.3% month-over-month and 0.6% year-over-year) due Friday. 4. Technically, GBP/USD needs to break through the 1.3787 resistance level to confirm a resumption of its upward trend since 2025. The exchange rate traded in the 1.3609-34 range during the Asian session, with support seen at 1.3590 and 1.3553, and resistance at 1.3681, 1.3787 and 1.4250.
