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Recent price action suggests GBP strength against USD. Our view is that the FED won't raise rates in December. Regardless, the only effect this news has on the prediction is that at that time the market price action might be a bit cagey.
On the weekly chart we see MACD being bullish and Cable on its way to break a channel and try for 1.59, a previous top. Nevertheless, with currency price actions acting out of the ordinary--meaning no strong trend following after a major break, especially one af…
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MOZILLA avatar
MOZILLA 30 Oct.

We look forward the 5 November the rate announcement that it will bring still rising the cross GBP/USD

TheAnalyst avatar
TheAnalyst 30 Oct.

Right, there is the BOE news next week...Can't really see a change in the bank rate, but the inflation report or even the bank rate votes could cause a stir in the pair. If recent history is anything to go by a 100-pip move will be the result  of any major news breaking. Unless of course the bank rate does increase, then the pair should move way more in November.

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