It seems likely the GBPUSD may find that is has a new price range in which its value needs to find equilibrium as economic clarity in the U.S and U.K remain difficult to navigate: Trading FOREX
Enter your emailA historic low was hit by the GBP/USD early last week, as financial institutions reacted with nervousness to the new U.K government fiscal policy.After touching historic lows on Monday of last week, as investment houses reacted in fear to the new economic mandates heralded by the Liz Truss led U.K government, something not so surprising happened.
The U.S Federal Reserve will likely raise its interest rate again in November and this action will certainly get a response from the Bank of England. However, the policy which is being undertaken by the U.K government is divergent from U.S policy. The potential exist that financial houses and speculators will view the 1.08500 ratio as a depth that is oversold. After the rather quick turnaround upwards generated by buying of the GBP/USD last week, some traders may expect higher values to be demonstrated. This is where things become tricky, just because the GBP/USD may have been oversold, it doesn’t mean it is time for an all-encompassing return to the a trading range of 1.23000 to 1.39000 by the Forex pair.
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