GBP/USD stays below the 1.3800 figure after the Federal Reserve (Fed) decided to keep interest rates on hold on Wednesday, on a 10-2 vote split as two Fed Governors opted for a rate cut of 25 basis points. The pair trades volatile within the 1.3740-1.3790 range, ahead of the Fed Chair Jerome Powell press conference. Sterling trades sideways as the Fed signals caution, offsetting dissenters who favored an immediate rate cutThe Federal Reserve held interest rates steady at 3.50%–3.75%, following a vote split at its latest policy meeting. Fed officials reiterated that inflation remains “somewhat elevated”, while noting that the unemployment rate has shown signs of stabilization. GBP/USD reaction to the Fed’s decisionGBP/USD seesawed within 1.3752-1.3787 but remains stable below 1.3800.