GBP/USD extended its gains for a fourth consecutive session, trading near 1.3430 during Thursday’s Asian session. The pair’s upward movement is largely supported by continued weakness in the U.S. Dollar, following Moody’s downgrade of the U.S. credit rating from Aaa to Aa1, in line with earlier downgrades by Fitch in 2023 and S&P in 2011.
Moody’s cited projections that U.S. federal debt could surge to 134% of GDP by 2035, up from 98% in 2023, with the budget deficit potentially widening to nearly 9% of GDP. Key concerns include rising interest payments, growing social expenditures, and weakening tax revenues.
The first critical support for GBP/USD is seen at 1.3450 and the first resistance is located at 1.3250.
Moody’s cited projections that U.S. federal debt could surge to 134% of GDP by 2035, up from 98% in 2023, with the budget deficit potentially widening to nearly 9% of GDP. Key concerns include rising interest payments, growing social expenditures, and weakening tax revenues.
The first critical support for GBP/USD is seen at 1.3450 and the first resistance is located at 1.3250.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.