It's one of those weeks where the range of possible outcomes is far and wide. As we go into tomorrow's Fed meeting there's a peculiar degree of indecision, as there's an approximate 30% probability of rates being hiked tomorrow.
Pound Sterling Price News and Forecast: GBP/USD has nothing to say in front of two central banks
British Pound drops against US Dollar, Fed-BoE policy in focus
The Fed meeting, GDP, PCE inflation and payrolls could drive major forex moves this week. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
GBP/USD Price Forecast: Trades vulnerably near 1.3300 ahead of Fed-BoE policy
Looking at the 4-hour chart, the pair settled below 1.3400, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a drop below the 50% Fib retracement level of the upward move from the 1.3140 swing low to the 1.3555 high.
Weekly technical outlook – Gold, USD/JPY, GBP/USD [Video]
GBPUSD also managed to retreat below 1.3320 which may add more drop pressure over market As we see over the Daily chart a possible triangle formation may hold market inside 1.3140-80 support and 1.3480 resistance Below 1.3140 more drops is likely SUPPORT RESISTANCE LEVEL1 1.3300 1.3400-30 LEVEL2 1.3160 1.3555 LEVEL3 1.3010 1.3655
British Pound: Fiscal risks cap upside against US Dollar – BNY
The Fed, GDP, PCE inflation and payrolls headline a pivotal week for forex markets. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
GBP/USD Price Forecast: VCP breakout likely after Fed-BoE policy announcements
Pound Sterling Price News & Forecast: GBP/USD attracts strong follow-through buying