GBP/USD Price Analysis: Failures to cross 200-DMA recall bears
GBP/USD takes offers around 1.3750, down 0.06% to refresh intraday low, during Thursday’s Asian session. In doing so, the cable pair justifies the pullback from 200-DMA amid the downbeat Momentum line.
However, a clear break of 23.6% Fibonacci retracement (Fibo) of June–July declines, around 1.3730, becomes necessary for the pair sellers to amplify the dominance. Following that, 1.3690 will be an additional halt to the south-run targeting the latest month’s low near 1.3570.
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GBP/USD rebounds ahead of FOMC Minutes [Video]
Indices in the United States were jittery on Wednesday, as markets anticipated the release of the latest FOMC minutes report. With the Federal Reserve set to release its account of its last policy meeting, markets have already begun speculating on what this could mean for the economy.
The Fed has already addressed inflation fears, by outlining their intention to hike rates over the next few years, however as conditions change, traders are hoping that this process could be sped up.
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