The GBPUSD will begin trading tomorrow near 1.28520, which is a value the currency pair has not traversed in a sustained manner since the 10th of July- Forex Forecast
will begin trading tomorrow near 1.28520, which is a value the currency pair has not traversed in a sustained manner since the 10The GBP/USD did climb above 1.31000 momentarily on Monday and fought to its high for the week on Tuesday near the 1.31270 vicinity, before the wheels fell off for bullish traders and values started to see strong selling ignite and continue the remainder of the week.
However, the news that will shake Forex and the USD/GBP if the Fed raises interest rates as expected will be the FOMC Statement and its outlook. Economic data from the U.S. remains rather complex and financial institutions are concerned about what the U.S. central bank will do moving forward. Just last month when the Fed stopped their hikes, it was understood a July increase would likely happen. But traders remain uncertain about what will occur towards the end of this year.
Equilibrium is being sought by financial institutions as they gather evidence regarding their outlooks on the BoE and Federal Reserve. The Fed’s FOMC Statement will produce price velocity in the GBP/USD as reactions mount. If the Fed gently suggests that inflation in the States is looking better and that it may be able to take a wait-and-see approach regarding interest rates in the mid-term, this could help the GBP/USD create buying momentum.
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