It is anticipated that the U.S. Federal Reserve will cut interest rates by another 25 basis points and adopt a more cautious approach to future rate reductions.
Investors will need to closely monitor the dot plot and Fed Chair Jerome Powell's comments during the press conference following the meeting for further insights into rate cuts and other economic stimulus measures, particularly in the context of Donald Trump's presidency.
However, lingering geopolitical risks and concerns over the ongoing trade war may provide support for the U.S. dollar, potentially pressuring the GBP/USD pair further.
Source: Fxstreet