GBP/USD Perspective: The recoil finds support at key levels before the Fed and BOE rates decisions
The cable bounced from a new minimum of three weeks (1,3415), reached after the fall of 1.2% on Tuesday, driven by a weaker United Kingdom inflation than expected in May. A weakest dollar also helps the recovery on Wednesday, while the markets expect the decision of the Fed today and the BOE monetary policy meeting (Thursday).
It is widely expected that both central banks maintain the rates this time, with the market approach to the projections signals for the rest of the year. The short -term structure was weakened after the closing on Tuesday below the 10/20 days mobile socks and the key support test in 1,3444 (FIBO 38.2% of 1,3195/1,3632, also the soil of the recent range), although a closure is needed below this level to validate the negative signal and open the path for a deeper setback. Read more …
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GBP/USD forecast: the sterling pound becomes bassist as attention moves to the Fed
The GBP/USD is listed slightly up to the day above 1,3450 after falling to its lowest level almost a month on Tuesday. In spite of the recent recovery, the technical perspectives of the Tar suggest that the bassist trend remains intact in the short term.
The atmosphere of risk aversion allowed the US dollar (USD) to gain strength on Tuesday and weighed over the GBP/USD. The flows to Refugio Assets dominated the action in the financial markets after the comments of the president of the United States (USA), Donald Trump, who hinted at a direct participation of the US in the Iran-Israel conflict. “Now we have total control of the heavens about Iran,” Trump said and added that Ayatolá Ali Khamenei is “an easy goal.” Read more …
Elliott of GBP/USD wave technical analysis [Video]
The GBPUSD daily chart presents a bullish trend characterized by an impulsive price movement, indicating a continuous strength. Currently, the market is developing the 5 orange wave within the broader cycle of the navy blue wave. This positioning indicates that the GBPUSD is in the final stage of an impulsive advance, which typically suggests a strong upward impulse. Read more …
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
