GBP/USD Forecast: Fed tone to trigger next directional movement
GBP/USD benefited from the improving risk mood and advanced to 1.2200 during the European trading hours on Tuesday. The renewed US Dollar (USD) strength in the second half of the day, however, forced the pair to retrace its daily advance. Early Wednesday, the pair fluctuates in a tight channel at around 1.2150 as investors gear up for the Federal Reserve’s (Fed) policy decisions. Read more…
GBP/USD remains on the defensive below 1.2150, Fed, BoE rate decisions eyed
The GBP/USD pair remains on the defensive during the early Asian session on Wednesday. The major pair faces rejection near the 1.2200 mark. Market players await the highly anticipated Federal Open Market Committee (FOMC) policy meeting on Wednesday ahead of the Bank of England (BoE) on Thursday. These events might trigger the volatility in the market. GBP/USD currently trades near 1.2139, losing 0.11% on the day. Read more…
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