Hello traders, FOMC has given as GBP/USD a boost to the upside as the market
believes Fed will cut rates soon although the Federal Reserve has kept rates
unchanged for now.
Technically, we do not have too many cues to go on. However, price has reached the 1.28
supply level. A bigger resistance level lies at 1.3150.
For now, we are not selling GBP/USD. Short-term traders can consider selling
GBPUSD@1.2890 level provided there is bearish price action.
believes Fed will cut rates soon although the Federal Reserve has kept rates
unchanged for now.
Technically, we do not have too many cues to go on. However, price has reached the 1.28
supply level. A bigger resistance level lies at 1.3150.
For now, we are not selling GBP/USD. Short-term traders can consider selling
GBPUSD@1.2890 level provided there is bearish price action.
Note
FOMC induced spike seems to be fadingNote
The 1.28 resistance highlighted by us has worked and price has dropped 100 pips from that levelNote
A massive 160+ pips fall from our 1.28 resistance zone. Currently price is testing the 100-day ema levelNote
270 pips profit so far
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.