Forex Signal For GBP/USD: Sells Up Before FOMC.
Forex Signal For GBP/USD: Sells Up Before FOMC.
The pair will likely experience a relief rally ahead of the Fed decision and then continue its bearish bias ahead of the BOE.
Bear Market View
- Sell the GBP/USD pair and take profit at 1,1850.
- Add a stop-loss at 1,2050.
- Timetable: 1 day.
Forex Signal For GBP/USD: Sells Up Before FOMC.
Bull Market Outlook
- Set a stop buy at 1,1980 and take a profit at 1,2050.
- Add a stop-loss at 1,1900.
GBP/USD price continued to sell significantly, as stagflation risks persisted in the UK. The pair is on a bearish path for the third week in a row, dropping to 1,1950, its lowest level since March 2020.
Also, the pound fell more than 16% from its May 2021 high.
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