GBP/USD Fights to Regain 1.200 Price Level

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GBP/USD Fought hard to hold to claim its minimal in-day profits. Also, this pair experienced a turnaround from its 3-week height earlier today (Tuesday). Furthermore, the increasing anxiety concerning the world recession keeps burdening the sentiment of investors. Also, it gave few assistance to the United State’s Dollar .

Subsequently, this was viewed as an important factor that restrained the GBP/USD. At the same time drew some selling pressure. Consequently, combined factors will likely restrain buyers and sellers from betting aggressively. Eventually, this will assist in minimizing the downside for GBP/USD.

GBP/USD Fights to Regain 1.200 Price Level

Further  Factors Affecting GBP/USD Price

Additionally, as the world scampered for safety, a decline in the US Treasury bond yield was turned on. And, this should impede significant profits for the USD. Besides this anticipations for a 50 basis points rate increase by the BOE ( Bank of England) come next month will likely propel the gap. Therefore, this will push up the price of GBP/USD.

Nevertheless, attention will be on the result of the 48-hour FOMC monetary policy gathering. This will be declared during the New York trading session on Wednesday. United State Central bank is broadly anticipating increasing rates by 75 bps, which will open the way for more rate increases. This combined with Jerome Powell’s comment will play an important part in affecting the short-term USD price changes.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.