GBP/USD Struggles Above 1.3500 Ahead of Fed and BoE Rate Calls
The GBP/USD currency pair is trading in a tight range above 1.3500 as investors remain cautious ahead of the Federal Reserve and Bank of England's monetary policy announcements.
The stronger expectations for a US interest rate hike and elevated Middle East tensions are supporting the US Dollar and limiting gains in the British Pound.
The technical levels, including the 200-period Simple Moving Average at 1.3522 and key Fibonacci retracements, are containing upside attempts in the pair.
The Federal Reserve is set to unveil its latest monetary policy decision on Wednesday, while the Bank of England will make its announcement on Thursday.