GBPUSD

The pound is trading around the 1.33437 pivot level against the dollar. The contraction of GDP and Trump's announcement yesterday that the Taiwan Semiconductor company will make a new $100 billion investment in the U.S. is creating a mixed effect on the pair. If it holds above the pivot, the levels of 1.33791 and 1.34500 may come into play. In downward movements, the levels of 1.32728 and 1.32374 are critical support points. The dollar may weaken due to expectations of Fed interest rate cuts, which could support the GBP/USD pair, but high inflation data (3.5% PCE core inflation) could delay interest rate cuts.