GBP/USD: Is expected an upward reaction?

AAATrade Team AAATrade

GBP/USD

Looking at GBPUSD’s chart, we can see its downward trend and its 52W low at the rate of 1.12105 whereas currently it is reacted at the level of 1.1255. Last night, Fed announced an interest rate increase of another 0.75% which boosted the US Dollar and dropped the FX pair of GBPUSD to the new lows. As the 0.75% was expected and fully priced in, today we could expect an upward reaction towards its resistance level at around 1.1340.

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AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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