GBPUSD direction / FED hike / UK Poll

FX:GBPUSD   British Pound / U.S. Dollar
50 1 0
GBPUSD             , this pair has been a major headache for me over the past few days. However, I think I have finally figured what this pair has been up to:
- The market underestimated this possibility until the last FOMC Meeting Minutes on May 18th. This explains the lack of real sustainable rallies since the one that took place on the 3rd of May.
- The FED has stated that a June hike is still on the table. However, skepticism around a real FED hike prior to the UK referendum has got the pair on hold.
- The latest poll on the BREXIT conducted by IG/SURVATION has show a 44% pro REMAIN against a 38% for the BREXIT supported. The pair gained positive territory after this release which has become the catalyst for this pair during the London Session.

So the question is, where is this pair going?
The GBPUSD             is on a bullish channel towards a re-test of the latest FED hike level. The market has decided to prepare for this scenario of FED hiking rates. However, the idea of hiking rates few days prior a major referendum in the UK, that have direct and significant consequences in the financial markets, seems to be highly unlikely.

Markets are positioning for this event in order to retest the latest FED rate hike levels during the next Federal Funds Rate on June 15th.

On a personal note: I believe the FED will be hiking rates on June the 15th if the data matches the committee expectations. A part from the fact that if they fail to do so with a positive data, markets will loose any remaining trust on the FED regarding a gradual interest rate hiking cycle.

I got the catalyst and the date of the event wrong... I got the level that price action re-tested amazingly accurate.. check it out
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out