Forex Signal For GBP/USD: Resistance Path Level Lower Before FED
Forex Signal For GBP/USD: Resistance Path Level Lower Before FED
The next key catalyst for the GBP/USD pair will be the upcoming decision of the Bank of England (BoE).
Bear Market Outlook
- Sell the GBP/USD pair and take a profit at 1,1250.
- Add a stop-loss at 1,1465.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Resistance Path Level Lower Before FED
Bull Market Outlook
- Set a buy stop at 1,1460 and a take profit at 1,1550.
- Add a stop-loss at 1,1350.
As traders continue to focus on upcoming central bank decisions, GBP/USD price has dropped to its lowest level since the 1980s and the pair fell to 1.1368, about 3.22% below this month's high.
It has dropped more than 16% this year alone.
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