The EURUSD sustained value last week and then experienced strong buying after the U.S Fed’s Meeting Minutes report was issued on Wednesday: Forex Trading Forecast Profit
The GBP/USD went into the weekend around the 1.20860 ratio, this after fighting for value around 1.18725 on Wednesday the 23Prior to making its bull rush upwards on late Wednesday, the GBP/USD had actually performed with a solid result as it sustained value above intriguing support levels hinting that the currency pair would not sink to lower depths.
. As soon as financial institutions saw the Meeting Minutes information, the GBP/USD started to be bought with conviction and broke the 1.20000 ratio and sustained value above.After moving higher with solid price velocity on Wednesday the GBP/USD continued to incrementally climb. As American financial houses climb back into their trading seats, behavioral sentiment will likely be rather volatile on Monday and Tuesday of this week and trading volumes will grow.The GBP/USD is now trading at values not seen since August of this year.
. Having gained so extraordinarily well this past Wednesday and maintaining its stronger stance, the GBP/USD should be watched closely. If financial houses really believe the end of the ‘hawkish’ Federal Reserve is in sight, the GBP/USD may be able to sustain its newfound bullish stance.Remarkable gains were made last week in the GBP/USD and traders who believe that there will be reversals lower need to be careful.
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