Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Google Add as a preferred source on Google

FxWirePro: GBP/USD trades in narrow range as markets await Fed guidance

• GBP/USD traded in narrow range   on Thursday as attention shifted to a speech from Federal Reserve Chair Kevin Warsh at ⁠Jackson ​Hole on Friday.

• The Kansas City Fed’s annual Jackson Hole symposium is scheduled for August 27-29, with markets focused on Kevin Warsh’s keynote remarks..

• Market participants will closely scrutinize Warsh’s remarks for clues on the Federal Reserve’s policy outlook for the remainder of the year.

• Markets will focus next week on Parliament’s resumption and potential funding plans for the Andy Burnham administration’s policies ahead of the October budget.

•   Immediate resistance is located at 1.3671(23.6%fib), any close above will push the pair towards 1.3714(Higher BB)

•  Strong support is seen at 1.3532(38.2%fib) and break below could take the pair towards 1.3415(50%fib).

  Recommendation: Good to sell  around 1.3600, with stop loss of 1.3650 and target price of 1.3530

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.