GBP/USD pulled into the midrange on Monday as Cable traders brace for a double-header of rate calls from both the Federal Reserve (Fed) and the Bank of England (BoE) later in the week.
Fed and BoE both slated to make rate calls this week. Fed expected to hold, BoE forecast to cut rates 25 bps. US NFP jobs report looms ahead on Friday. GBP/USD pulled into the midrange on Monday as Cable traders brace for a double-header of rate calls from both the Fed eral Reserve and the Bank of England later in the week. The Fed is broadly expected to hold steady on rates one more time on Wednesday, while markets are hoping for a first quarter-point rate cut from the BoE on Thursday.
3000 handle are keeping bullish action on the low side, and it won’t take much for sellers to form a cluster and push Cable below the last swing low and challenge the 1.2600 handle. GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom.
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