GBPUSD and Gold: Critical Support Levels Highlighted Amid Market Pressure
The British pound experiences persistent pressure as the dollar strengthens. This trend follows a dovish rate hold from the Bank of England and a more hawkish outlook from the Federal Reserve for the year 2025. Coupled with political influences like the Trump effect, the pound is edging closer to its lows from 2024. As these factors unfold, analysts emphasize the importance of support levels for both GBP/USD and gold, as market participants navigate this turbulent environment.
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