GBP/USD Forecast: Muted reaction to Fed, Eyes UK GDP

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD pair fell on Wednesday ahead of the Fed and remained weak despite dovish hints from the Fed. Sterling’s weakness may be due to speculation that the Fed may end up holding rates unchanged for the rest of the year and hence the BOE too would let go its plans to raise rates in 2016. Anyways there are few in the markets now, who believe a BOE rate hike could happen in 2016. Hence, the dud reaction in GBP/USD following a slightly dovish Fed statement is surprising. As of now, the pair

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