FED Harden Up, GBPUSD Bears Pressing On
lowest forex commission–HXFXglobal reminds you:
Goldman Sachs Expects FED To Start The Taper This Year, GBPUSD Swaying Towards South
Investors are recommended to consider marginal and short-term Short at around 1.3494, Take-Profit at 1.3433, Stop-Loss by 1.3515.
The UK Manufacturing PMI(Jan) recorded 56.9, the result were worse than expected. In addition the UK Service Industry PMI(Jan) recorded 53.3, also worse than the forecast of 54.8. Superimposed that British Prime Minister Johnson is facing increasingly strong calls to step down, according to sources, impeachment of the Prime Minister is already in the pipeline, and GBPUSD fluctuates weakly. Previously, Goldman Sachs expected the FED would raise interest rates in March this year and begin to its taper on balance sheet later this year to curb inflation, moreover, US President Biden is considering to strengthen the military deployment in Eastern Europe, as the tension between Russia and Ukraine escalates, constructed the resistance on GBPUSD.
In 4Hrs range, 5 & 10MAs decline, KD consolidates, MACD shown negative on histogram, while DIFF & DEA on descent. Bollinger Median Band holds resistance, could make GBPUSD to resume it’s regional vacillation in short-term after the plunges. Since the pressure accumulated on top is foreseeable, therefore, would suggest Investors to consider a High-Throw for Short position for the best possible interest.
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