The GBP/USD is rallying sharply after the US Federal Reserve raised rates by 25 bps. Federal Reserve officials updated its dot-plot, with 10 out of 18 policymakers expecting another 25 bps rate hike by the end of the year. At the time of typing, the GBP/USD is trading volatile within the 1.2240-1.2300 range as traders brace for Fed’s Powell press conference.
In its statement, the Fed acknowledged that the recent developments in the financial markets could tighten monetary conditions for households and businesses. However, the US central bank emphasized that the US banking system is solid and resilient.
GBPUSD h1 main trend is still bullish. Currently the price is accumulating short waiting to break up. With this currency pair traders can buy to the current price of 1.2277, SL: 1.2200, TP: 1.2370
In its statement, the Fed acknowledged that the recent developments in the financial markets could tighten monetary conditions for households and businesses. However, the US central bank emphasized that the US banking system is solid and resilient.
GBPUSD h1 main trend is still bullish. Currently the price is accumulating short waiting to break up. With this currency pair traders can buy to the current price of 1.2277, SL: 1.2200, TP: 1.2370
