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GBP/USD Forecast: Is it forming an inverse head and shoulder?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Dovish Yellen sent dollar tumbling across the board and overshadowed Brexit fears and bearish UK’s OBR economic forecasts. Consequently, GBP/USD pair rose to 1.4270 and extended gains to a high of 1.4291 in Asia, before falling back below hourly 200-MA level of 1.4239 levels. Eyes BOE rate decision Bank of England is likely to keep key policy tools unchanged and the minutes are likely to show unanimous voting in favor of keeping rates unchanged. OBR revised UK 2016 inflation and GDP forecasts

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