GBP/USD Quiet Ahead of Key Events That Could Shift Rate Cut Bets
- GBP/USD trades mildly lower at 1.2597 amid quiet markets due to lack of data and US holiday
- Awaits key events this week - FOMC minutes, UK and US PMIs - to provide direction
- Technical analysis shows bears have short-term control but overall uptrend intact
- Markets biding time regarding Fed and BoE rate cut expectations
- Volatility expected with upcoming data/events as they may shift rate cut timing bets