Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The GBP/USD pair is being pressured at the start of the week, down by about 0.3% after sliding from a high of 1.3669 to a low of 1.3608 so far and staying close to a three-week low.
Central banks are the focus for the week with uncertainty as to whether the Bank of England will raise interest rates and if the US Federal Reserve will start tapering this month.
Firstly, the two-day Federal Open Market Committee meeting kicked off today. The market has positioned for a tapering announcement following guidance from the central bank which has managed expectations perfectly in terms of preparing the markets for what is likely to be speed tapering.
Most officials seems to agree that it’s better to get tapering over as quickly as possible in order to leave the Fed maximum flexibility to hike rates when needed.
