With a tight interest rate differential and range bound price action, the direction on this pair can be tough to predict.
So far GBP interest rates are higher than that of the USD so GBP strength remains until the Bank of England cuts rates which can happen in August this year.
Short term wise, we can use next week's US economic data to see where prices go next.
So far GBP interest rates are higher than that of the USD so GBP strength remains until the Bank of England cuts rates which can happen in August this year.
Short term wise, we can use next week's US economic data to see where prices go next.
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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.