maintain downtrend, wait for FOMC to determine next trend

🔔🔔🔔GBP/USD news:

➡️ The GBP/USD pair surged toward the 1.3460 level during early European trading on Wednesday, with the British pound (GBP) gaining modestly following an upbeat UK Consumer Price Index (CPI) inflation report. Market focus now shifts to the US Federal Reserve's interest rate decision due later in the day.

➡️ On the USD side, the Fed is widely expected to keep borrowing costs unchanged at its June meeting on Wednesday. Traders are currently pricing in nearly an 80% chance of a rate cut in September, followed by another one in October. Investors will closely monitor signals from the FOMC press conference, and if the Fed adopts a dovish stance, the US dollar is likely to face further downside pressure.

Personal opinion:
➡️ The increasingly intense war between Israel and Iran is currently an important factor causing the USD to increase in price due to the safe haven of cash flow. So GBP/USd will still be under short-term selling pressure and wait for FOMC to determine the next trend

➡️ Analyze based on important support resistance levels and Fibonacci combined with EMA to come up with a suitable strategy

Personal plan:
🔆Price Zone Setup:

👉Sell GBP/USD 1.3490 - 1.3500
❌SL: 1.3535 | ✅TP: 1.3445

FM wishes you a successful trading day 💰💰💰