GBPUSD Expected to recover, after a series of strong declines.
Updated
⚡️The US Dollar (USD) continues to gain strength from the ongoing series of positive economic data regarding the state of the US economy. The US Dollar Index (DXY), a gauge of the Greenback's performance against six other major currencies, is currently trading around 104.90, although below the highest recorded on Thursday since from April.
⚡️The US Federal Reserve (Fed) is willing to keep interest rates elevated for an extended period of time. Furthermore, there are expectations that the Fed will proceed with a 25 basis point (bps) rate hike in its November and December meetings. This hawkish stance is providing significant support for the dollar's strengthening. US Dollar (USD).
⚡️On the other hand, the belief that the Bank of England (BoE) is nearing the end of its policy tightening period could put downward pressure on the British Pound (GBP) and limit the upside potential of the GBP/USD pair.
⚡️Before the correction, I think this pair will go sideways
⚡️ Share your opinion with me, I'm looking forward to it.
⚡️The US Federal Reserve (Fed) is willing to keep interest rates elevated for an extended period of time. Furthermore, there are expectations that the Fed will proceed with a 25 basis point (bps) rate hike in its November and December meetings. This hawkish stance is providing significant support for the dollar's strengthening. US Dollar (USD).
⚡️On the other hand, the belief that the Bank of England (BoE) is nearing the end of its policy tightening period could put downward pressure on the British Pound (GBP) and limit the upside potential of the GBP/USD pair.
⚡️Before the correction, I think this pair will go sideways
⚡️ Share your opinion with me, I'm looking forward to it.
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⚡️DXY's recovery pushed GBP down the past few days
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⚡️The market becomes more active when the American session beginsTrade active
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⚡️The US is facing the risk of second round inflation, leaving the Fed open to raising interest rates, putting further pressure on the exchange rateNote
⚡️Hello everyone, are you ready for an extended week of winning?Trade active
Trade active
Trade active
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⚡️GBP/USD started the new week on a positive note, despite the lack of optimism.The USD's modest decline from multi-week highs is seen as supporting the major currency pair.
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The price is going according to my plan, stay tuned ⚡️Follow me⚡️
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⚡️The plan is right
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