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GBP/USD: Weekly Forecast 14th May - 20th May
Traders of the GBP/USD were rudely treated by fundamental powers late last week. After reaching a high of nearly 1.26795 on Wednesday and likely adding to visions of new highs being able to be created in the minds of optimistic bulls, Bank of England Governor Andrew Bailey poured cold water on the GBP/USD. After the BoE announced a quarter-of-a-point interest rate hike that was anticipated, Bailey then surprised GBP/USD traders with his rhetoric. Tougher Than Expected Economic Conditions Comments from Bailey Stirred the GBP/USD Trading in the GBP/USD held firm in the midst of the interest rate hike from the BoE, but ... (full story)