Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the GBP/USD daily, 4-hour, and 15-minute charts.
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Editors’ Picks
AUD/USD: Rebound remains capped near 0.6775 ahead of Fed verdict
AUD/USD stalls its upswing near 0.6775 early Wednesday, following the dismal Australian Westpac Leading Index. Traders await the crucial Fed policy decision before the next leg of a directional move. However, increased bets of an oversized Fed rate cut revive the US Dollar selling, keeping the pair afloat.
USD/JPY extends the slide toward 141.00, Fed awaited
USD/JPY extends the decline toward 141.00 in Asian trading on Wednesday, reversing a part of the previous rebound. The BoJ's hawkish signal that it will hike rates again in 2024 contrasts bets for a more aggressive policy easing by the Fed, smashing the pair heading into the Fed event risk.
Gold price remains close to record high, awaits pivotal Fed decision before the next leg up
Gold price attracts some dip-buying and reverses a part of the overnight corrective slide. Bets for a 50 bps Fed rate cut keep a lid on the attempted USD recovery and lends support. Bulls seem reluctant to place aggressive bets ahead of the key central bank event risks.
UK CPI set to grow at stable 2.2% in August ahead of BoE meeting
The United Kingdom Office for National Statistics will release August Consumer Price Index figures on Wednesday. Inflation, as measured by the CPI, is one of the main factors on which the Bank of England bases its monetary policy decision, meaning the data is considered a major mover of the Pound Sterling.
Bitcoin rallies with crypto market on steeper Fed rate cut speculation and Q4 positivity
Bitcoin and the crypto market saw a brief rally on Tuesday following speculations that the Federal Open Market Committee may opt for a 50-basis-point rate cut during its meeting on Wednesday.
Moneta Markets review 2024: All you need to know
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