So what could be the possible outlook this week for GU? Federal interest rate will take place and then followed on the UK interest rate decision. I think, huge spikes are gonna happen for Pound and greenback.
GBPUSD Clears 1.40, but Volatility Concerns Prevail
Just over 24 hours ago I discussed how the GBPUSD struggled to climb above the 1.40 handle last week. A view of the daily time frame shows how the level has helped direct price action since the January 30 low. In fact, the 1.40 area served as support in the months leading up to the June 24th Brexit in 2016. With the pair now firmly above 1.40 on a daily closing basis (using a New York close chart), the area should begin to attract bids. In other words, any retest of 1.40 should garner support from GBPUSD bulls. However, be sure to mind the daily mean. With the pair trading nearly 100 pips above the 10 and 20 daily ... (full story)