GBPUSD Will FOMC and BOE Drive the Next Move?
GBPUSD completed a bearish harmonic pattern near the end of May, signaling downside potential.
Despite multiple attempts to decline, rising geopolitical tensions in the Middle East and the FED’s reluctance to cut rates have kept price movements in check.
The pair repeatedly tested the 1.3600 resistance zone, but finally moved down by nearly 160 pips yesterday.
With the FOMC Interest Rate decision today and BOE’s rate announcement tomorrow, the market could see a rebound ahead of FOMC for a larger correction, potentially setting up for a decline tomorrow.
While this remains an assumption for now, as long as the harmonic pattern remains valid, further downside remains a possibility.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
GBPUSD completed a bearish harmonic pattern near the end of May, signaling downside potential.
Despite multiple attempts to decline, rising geopolitical tensions in the Middle East and the FED’s reluctance to cut rates have kept price movements in check.
The pair repeatedly tested the 1.3600 resistance zone, but finally moved down by nearly 160 pips yesterday.
With the FOMC Interest Rate decision today and BOE’s rate announcement tomorrow, the market could see a rebound ahead of FOMC for a larger correction, potentially setting up for a decline tomorrow.
While this remains an assumption for now, as long as the harmonic pattern remains valid, further downside remains a possibility.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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📣GBPUSD - Update
Powell's FOMC Comments Signal Confidence, but No Rate Cut Yet (tradingview.com/chart/GBPUSD/t4euuCqO-GBPUSD-Will-FOMC-and-BOE-Drive-the-Next-Move/)
Jerome Powell's remarks during the FOMC press conference were largely positive regarding the U.S. economy, even though the Fed opted not to cut interest rates.
He emphasized that the Fed remains data-dependent, and if current economic conditions persist, there may be no need to implement rate cuts anytime soon—though he did leave the door open for timing adjustments, depending on how the data evolves.
On the other hand, GBP/USD met strong resistance near 1.3475 and appears to have topped out for now.
The pair has already dropped around 75 pips, and could decline further if Powell maintains his hawkish tone on the strength of the U.S. economy.
Note
📣The FED Keeps Rates unchanged at 4.5% as widely expectedInterest Rate Projections - 1st year
3.6% vs 3.4%
Interest Rate Projections - 2nd year
3.4% vs 3.1%
Interest Rate Projections - Current
3.9% vs 3.9%
Interest Rate Projections - Longer
3.0% vs 3.0%
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.