GBP/USD Forecast: Scope for profit taking ahead of weekend?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    British Pound was the best performing major currency on Thursday, courtesy of broad based dollar selling and not so dovish BOE. Fed’s backtracking from December’s hawkish view has triggered a wave after wave of dollar selling, pushing majors and EM currencies higher. Furthermore, Bank of England was not so dovish, still calling for a gradual rate rise despite ECB’s bazooka and dovish Fed. BOE did warn about Brexit’s negative impact, but focus was more on the improving labor market and wage

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