Forex Signal For GBP/USD: Double Peak Curve Forms Ahead of FOMC Disclosures
Forex Signal For GBP/USD: Double Peak Curve Forms Ahead of FOMC Disclosures
The pair will likely continue its downtrend as sellers try to move below the support at 1,2000
Bear Market Outlook
- Take a sell stop at 1,2000 and a profit at 1,1900.
- Add a stop-loss at 1,2200.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Double Peak Curve Forms Ahead of FOMC Disclosures
Bull Market Outlook
- Take a buy stop at 1,2135 and a profit at 1,2250.
- Add a stop-loss at 1,2000.
GBP/USD climbed to 1,2100, about 70 basis points above this week's low, as the price rose slightly ahead of upcoming UK consumer and producer inflation data and relatively weak US housing numbers.