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17 Sep 2015
GBP/USD making a cautious base on the 1.56 handle
FXStreet (Guatemala) - GBP/USD made fresh highs on the 1.56 handle as markets continue to exit the greenback on the back of the Fed's interest decision.
GBP/USD is making a cautious base on the 1.56 handle at the moment, during the post FOMC press conference while she explained that most participants continue to think rates will rise this year as dollar index moves back towards session lows. All months are now live and as and when the US economy is ready for a hike it could happen at anytime.
The Fed left rates unchanged and 13 officials wanted a rate hike 2015, down from 15 officials of previous meeting due to concerns of the global uncertainties, and essentially, they do not want to jeopardize economic progress by moving too early. Meanwhile, UK jobs data this week supported an optimistic tone from the BoE's Governor, Carney who is planning towards a possible case for interest rates to be hiked in the foreseeable future.
GBP/USD upside levels
Technically, the 1.5615 August high has been penetrated and risks remain with a bullish bias towards the recent highs of 1.5817 in late August.
GBP/USD is making a cautious base on the 1.56 handle at the moment, during the post FOMC press conference while she explained that most participants continue to think rates will rise this year as dollar index moves back towards session lows. All months are now live and as and when the US economy is ready for a hike it could happen at anytime.
The Fed left rates unchanged and 13 officials wanted a rate hike 2015, down from 15 officials of previous meeting due to concerns of the global uncertainties, and essentially, they do not want to jeopardize economic progress by moving too early. Meanwhile, UK jobs data this week supported an optimistic tone from the BoE's Governor, Carney who is planning towards a possible case for interest rates to be hiked in the foreseeable future.
GBP/USD upside levels
Technically, the 1.5615 August high has been penetrated and risks remain with a bullish bias towards the recent highs of 1.5817 in late August.