GBP/USD ends sideways trading before FED

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At 18:00 GMT, the US Fed will hike interest rates. Depending on the size of the hike, the USD will either surge or decline. The GBP/USD is set to adjust accordingly. Prior to the meeting though, the currency exchange rate passed below the support of the 1.1350 level and confirmed it as resistance.

In the case of a larger than expected hike, the GBP/USD is set to sharply decline. Support might be looked for in the 1.1300 mark, the weekly S1 at 1.1267 and the 1.1250 level.

However, a lower than price in hike of 0.50% might result in a surge above 1.1350. Above that level, the 1.1400 mark is set to act as resistance together with the 50 and 100-hour simple moving averages. Higher above, note the 1.1440/1.1450 range.
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