GBP/USD Holds Steady at 1.2750 Ahead of Crucial US Data Release

GBP/USD is trading sideways around 1.2750, showing minimal movement as traders adopt a cautious stance before key US economic releases. The pair has consolidated in a tight 20-pip range during the European session, reflecting market uncertainty about the direction of both currencies. Sterling's resilience comes despite ongoing concerns about UK economic growth, while dollar movements remain muted ahead of critical US data that could shape Federal Reserve policy decisions. Technical analysis shows immediate resistance at 1.2780 (50-day moving average) and support at 1.2720 (previous week's low). The pair's neutral stance suggests traders are awaiting clearer signals from upcoming US employment and inflation figures, which could trigger a breakout from the current range. A positive surprise in US data could push the pair below 1.2700, while disappointing numbers might propel cable toward the 1.2850 resistance zone.