The GBPUSD produced a solid week of gains- Forex Trading
was trading near the 1.26780 vicinity, this before the Forex markets shook and the currency pair started to incrementally track lower. of May, this before starting a reversal higher which saw additional volatile price action fighting to gain value. The GBP/USD went into this weekend near the 1.25785 ratios as the Forex pair exhibited strong buying action much of last week.
If the U.S Fed announces it will not increase the Federal Funds Rate this week, but will continue to monitor inflation and do what is necessary in the future, possibly increasing interest rates in the mid-term this could also damper expectations of a much stronger GBP/USD regarding upwards momentum. Financial houses seem to have positioned GBP/USD holdings into a mode that signals they expect the U.S. Fed will not raise interest rates this Wednesday. But this decision is not actually known yet by the Federal Reserve.Traders should be cautious about having open positions in the GBP/USD before the Federal Reserve’s FOMC Statement on Wednesday.
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