$GBPUSD Forecast: Pound faces two-sided risks as Fed and BOE decisions loom by eren_fxstreet forex trading
, communicated their intentions to hike the policy rate by 50 basis points in May and such a decision shouldn't come as a surprise. Additionally, the Fed is widely expected to announce its plan to start trimming its asset holdings by $95 billion from June.since March and the soaring US Treasury bond yields during that period suggest that there isn't that much room for a hawkish surprise.
Ahead of the Bank of England's policy announcements on Thursday, however, the British pound could have a difficult time finding demand even if the greenback were to face renewed bearish pressure in the second half of the day.Tuesday's action confirmed that 1.2570 aligns as key resistance in the near term. In case this level turns into support, the pair could push higher toward 1.2600 and 1.2660 .
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