Business
GBP/USD Ticket Analysis: Consolidates around 1.2680 with a tepid momentum
GBP/USD grapples to find a direction, hovering around 1.2680 all via the Asian session on Thursday. The technical analysis of the GBP/USD pair presentations that the 14-day Relative Strength Index (RSI) is positioned beneath 50. This indicates a bearish momentum for the pair.
Furthermore, the Engaging Average Convergence Divergence (MACD), a lagging indicator, indicates a subdued momentum for the pair. This is evident from the MACD line being situated above the centerline but beneath the signal line. Traders are advised to train caution and take into consideration waiting for direction confirmation from the MACD prior to engaging in aggressive bets on the GBP/USD pair. Read more…
Business GBP/USD oscillates in trading range beneath 1.2700 ahead of BoE rate decision
The GBP/USD pair remains confined within a trading range between 1.2600 and 1.2800 all via the early Asian session on Thursday. The Bank of England (BoE) will announce the curiosity rate decision later within the day, which is broadly anticipated to sustain its monetary status quo. The major pair at the 2nd trades near 1.2678, gaining 0.04% on the day.
The Federal Open Market Committee (FOMC) agreed unanimously to sustain the benchmark Federal Funds Rate between 5.25% and 5.5% for the fourth straight month. The committee will probably be patient to make certain that the lower inflation rate remains within the 2% target sustainably. Fed Chair Jerome Powell closed the door to the opportunity of a rate lower in March, but the markets proceed to resolve the May FOMC assembly as the in all probability for the Fed to start easing policy. Read more…
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