Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
GBP/USD: a U-turn at lower levels?
Information is not investment advice
GBP/USD was above 1.37 a while ago, spent some time there, and went downwards. We were correct to expect that it would reverse the gains adn go down. 1.3650 seems to be the target for bears now. What will they do?
Primary scenario: the bearish wave will not exhaust itself until it goes through the support channel 1.3630 - 1.3650; after that, GBP/USD will get back up to 1.37 and beyond.
Secondary scenario: GBP/USD drops lower to 1.36 and takes much more time between 1.36 and 1.3650.
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Brutal session in the equity markets yesterday
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Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
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