GBP/USD grinds below 1.2625 hurdle ahead of UK data dump, FOMC – by anilpanchal7 GBPUSD GDP Fed RiskAversion Macroeconomics
to 2.0%.” BoE’s Mann also added that the drop in inflation expectations was important for her to switch my vote to 25 bp rate hike from 50 bps. On the other hand, BoE Monetary Policy Committee appointee Megan Greene stated that important not to allow inflation expectations to become de-anchored, which in turn suggested tighter monetary policy and higher rates ahead.
It should be noted that the dicey market conditions, as portrayed by the inactive S&P500 Futures and sluggish yields also prod the GBP/USD traders ahead of a slew of the UK data and the Fed announcements. Looking forward, a likely improvement in the monthly UK Gross Domestic Product for April may allow the Pound Sterling buyers to keep the reins unless the Fed offers a hawkish surprise.The overbought RSI conditions and an ascending resistance line from June 01, around 1.2615 by the press time, quickly followed by the previous monthly high of near 1.2625, prod the GBP/USD bulls.
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