GBP/USD Price Forecast: Eyes nine-day EMA support near 1.3500

GBP/USD is testing support near the nine-day exponential moving average (EMA) at 1.3500, reflecting short-term bearish momentum amid renewed USD strength. The key transmission channel is shifting rate differential expectations, as stronger-than-expected U.S. economic data reinforce Fed rate hold projections while BoE policy uncertainty weighs on sterling. This dynamic pressures GBP, with short-term traders focusing on the EMA as a critical technical and sentiment gauge. A break below 1.3500 could trigger further downside toward 1.3450, especially if U.S. CPI data prints above forecast. Traders will watch Wednesday’s U.S. inflation report for confirmation on the near-term path of Fed policy and dollar direction.

The US Dollar (USD) is the world's primary reserve currency and the base for most forex majors. Headlines about Federal Reserve policy, US macro data (CPI, NFP, GDP), and Treasury yield shifts typically drive USD pair direction within seconds of release.

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