GBPUSD has been on a tear higher lately with 10 consecutive green D1 candles.
Price has now returned to the potentially pivotal swing level of 1.2760 ahead of a major event - this evening's FOMC.
Any strong USD reaction here could well determine the path of least resistance.
For those not following the meeting closely tonight's closing level (9PM BST) can be used as a key determinant of whether the market is able to attempt a breakout above 1.2760 or whether this will act as resistance.
No real bias ahead of the event, waiting for price action to lead
Price has now returned to the potentially pivotal swing level of 1.2760 ahead of a major event - this evening's FOMC.
Any strong USD reaction here could well determine the path of least resistance.
For those not following the meeting closely tonight's closing level (9PM BST) can be used as a key determinant of whether the market is able to attempt a breakout above 1.2760 or whether this will act as resistance.
No real bias ahead of the event, waiting for price action to lead
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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.