GBPUSD SIGNAL 21.09.2022.:GBPUSD bounces off multi-decade low, finds some support near 1.1300 ahead of FOMC.

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GBPUSD SIGNAL

GBPUSD SIGNAL

GBP/USD bounces off multi-decade low, finds some support near 1.1300 ahead of FOMC

  • GBP/USD recovers a few pips from its lowest level since 1985 touched earlier this Wednesday.
  • An intraday pullback in the US bond yields caps gains for the USD and offers support to the pair.
  • The attempted bounce lacks bullish conviction ahead of the highly-anticipated FOMC decision.

GBPUSD SIGNAL :The GBPUSD pair finds some support near the 1.1300 mark and recovers a few pips from its lowest level since 1985 touched earlier this Wednesday. The pair, however, keeps the red for the second successive day and is currently trading just below mid-1.1300s, down around 0.30% for the day.

 

 

The anti-risk flow, meanwhile, triggers a modest pullback in the US Treasury bond yields, which, in turn, is holding back the USD bulls from placing fresh bets. Adding to this, Britain unveils a package to help businesses, capping the cost of electricity and gas. The combination of factors helps ease the bearish pressure around the GBP/USD pair, though any meaningful recovery still seems elusive as the focus remains on the key central bank even risks.

GBPUSD SIGNAL :The US central bank is scheduled to announce its policy decision later during the US session. Investors will further take cues from the updated economic projections, the so-called dot plot and Fed Chair Jerome Powell’s comments at the post-meeting press conference. This will be followed by the BoE meeting on Thursday, which will play a key role in influencing sterling and help determine the next leg of a directional move for the GBP/USD pair.                                                                Confuse Which Broker is best ? , Here you can find the best regulated broker

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