Dollar Rebounds as Traders Reconsider Fed Rate Cut Expectations
GBP/USD - The British pound weakened significantly against the greenback, dropping to 1.2625 from its previous level of 1.2735. Immediate support is anticipated at 1.2600 for the pound, followed by 1.2570 and 1.2540. Immediate resistance sits at 1.2660 (overnight high), 1.2700, and 1.2740. Expect increased volatility in Sterling within the range of 1.2600-1.2700. Trading expected within this range for the day.
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