After the Fed decides to keep interest rates unchanged, the dollar goes up, and inflation will continuously rise until the Fed decides to cut interest rates. For GBP/USD, it will be a downtrend if the USD keeps rising.
For day trading, GBP/USD is oversold in the RSI 1H timeframe and is bouncing in the demand zone. We can buy for the short term until it hits our sell zone.
This week, GBP/USD might change its trend or stay ranging above 1.26434-1.26700. If the price breaks the support/demand zone, we will look for an opportunity to sell at retracements.
For day trading, GBP/USD is oversold in the RSI 1H timeframe and is bouncing in the demand zone. We can buy for the short term until it hits our sell zone.
This week, GBP/USD might change its trend or stay ranging above 1.26434-1.26700. If the price breaks the support/demand zone, we will look for an opportunity to sell at retracements.
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