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GBPAUD hits Target – Video Analysis

Market Analysis

GBPAUD hits Target  GBPAUD hits intra-day target set in the morning after 1.6500 level rejected. Meanwhile based on today’s closing a possible Long Daily position might taken. Currently we are looking ahead Oil inventories and the significant FOMC statement.  In FOMC meeting today, no major changes are expected . The Fed is universally expected to leave its 1.00% to 1.25% rate band in place. Additionally, it’s unlikely that the Committee will announce the start of the balance sheet unwind, or quantitative tightening, QT, just yet. The rate decision is mostly dependent on inflation at this point and the slowdown in price pressures should keep policy on hold for now.

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Stuart Cowell

Senior Market Analyst

HotForex

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