GBP/USD Holds Above 1.3500 as Fed Signals Dovish Shift

GBP/USD maintains its position above the crucial 1.3500 psychological level following Federal Reserve Chair Jerome Powell's dovish commentary at the Jackson Hole Symposium. The pair has gained approximately 0.5% (65 pips) since Powell's speech, which hinted at a more accommodative monetary policy stance amid concerns about global economic growth. The dovish tilt has weakened the US dollar across the board, providing support for sterling despite ongoing Brexit uncertainties. Technical indicators show GBP/USD finding immediate resistance at 1.3550, with strong support established at 1.3480. The relative strength index (RSI) reads 58, suggesting room for further upside without entering overbought territory. Traders are now focused on upcoming UK GDP data and US PCE inflation figures, which could determine whether the pair can sustain its break above 1.3500 or face renewed selling pressure.