GBP/USD remained anchored on Thursday around its 10-day average at 1.2437, within its recent 1.2353-1.2516 range as sterling traders appeared reluctant to break out in either direction amid hawkish rate and U.S. bank-related uncertainties.
Upcoming central bank meetings may help traders decide on sterling's near-term path, beginning with the BoJ's policy announcement on Friday, the RBA, Fed and ECB next week, then the BoE on May 11.
IRPR on Eikon indicates no changes for the BoJ and RBA, while the Fed, ECB and BoE set to hike 25bp.
Though moving sideways recently, cable remains near its 2023 April 14 high at 1.2545.
The pound is nearing a tipping point, holding up through tests of support by the rising 21-DMA at 1.2435 but failing to hold above 1.25 and take out its recent 1.2545 high.
Key will be central bank guidance.
IRPR on Eikon indicates the Fed on hold after May, while the ECB and BoE will continue hiking into Q4.
But a dovish BoE take on rates would give GBP/USD bears the advantage, with any slip below 30-DMA support at 1.2384 making the April 3 low at 1.2275 vulnerable.
For more click on FXBUZ