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GBP/USD: Sees Massive Ceiling
The British Pound initially rallied during the trading session on Monday, but you can see that we have sold off since then. That being said, it’s no surprise given the circumstances—markets are bracing for Wednesday’s FOMC meeting, which will heavily impact the US dollar, followed by the Bank of England’s interest rate decision on Thursday, a key driver for the British pound. We are extended at this point, and we are at an area that has been important multiple times. So, because of this, I think you've got a situation where perhaps we're due to a pullback. On the other hand, though, if we can clear the 1.35 ... (full story)
