The $GBPUSD pair will likely have a bearish breakout this week.
The US dollar has had a strong performance as its price jumped to the highest point in almost 20 years. Recently, however, the greenback rally has taken a breather as investors have moved to take profit.
At the same time, the Federal Reserve has insisted that it will continue tightening in the coming months. It expects to keep raising interest rates in the coming months. Minutes published last week showed that officials expect to hike by 0.50% in the coming three meetings and then shift to 0.25% hikes. Also, the bank is expected to start reducing its balance sheet.
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