Pound Holds Steady After Fed Decision

The GBP/USD pair is currently holding steady around the 1.2530 mark. After the Federal Reserve decided to maintain interest rates, the pound tested the 200-day moving average (DMA) level at 1.2550. Today, no significant economic events are impacting the pair. Unless there's a breakout above the 1.2550/60 range, the pair is expected to trade within the range of 1.2465 to 1.2550/75. Any further upward movement will likely encounter resistance around the 200-day moving average (DMA) area, with resistance levels at 1.2705 and 1.2765. The initial support level is situated at 1.2465, and if breached, attention will swiftly turn to the 1.2400 level, followed by 1.2330.