Tuesday, September 20, 2016
GBP/USD tries to break the 1.3000 level
The
GBP/USD has been oscillating around the 1.3000 level, mostly inclined to the
downside, but without a clear direction due to the fact that tomorrow we have
the FED’s announcement. Whatever the decision may be for tomorrow in regards to
the US interest rates, the Dollar crosses may exhibit high volatility. To the
upside, the resistances at the 1.3100, 1.3200, 1.3300 and even the 1.3481 may
be broken if the reaction after the FED is positive for the Pound. To the
downside, the 1.2800 level may act as a temporary support for the pair in case
of a bearish breakdown, but the momentum may take the pair even lower.
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Looks like its waiting for the Fed statement later today.
ReplyDeleteAll eyes will be on FED today.
ReplyDeleteStill inside the consolidation range of the last three months.
ReplyDeleteStill hovering around 1.30 handle.
ReplyDeleteThank you for the relevant information.
ReplyDeleteGreat article!
ReplyDeleteBear is still in control.
ReplyDelete