Forex Signal For GBP/USD: Sterling Expected to Retest 1,2200 Ahead of BOE, FOMC.
Forex Signal For GBP/USD: Sterling Expected to Retest 1,2200 Ahead of BOE, FOMC.
The pair will likely continue to decline as the Bear Market targets key support at 1,2200.
Bear Market View
- Sell the GBP/USD pair and take profit at 1,2200.
- Add a stop-loss at 1,2400.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Sterling Expected to Retest 1,2200 Ahead of BOE, FOMC.
Bull Market Outlook
- Set a buy-stop at 1,2325 and a take profit at 1,2450.
- Add a stop-loss at 1,2300.
The GBP/USD pair fell sharply to 1,2263, its lowest point since May 16, as the possibility of a more aggressive Federal Reserve persisted. It fell 2,8% below its high last week.
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