GBPUSD Technical Analysis – The negative sentiment boosted the US Dollar ...Middle East

Fundamental OverviewThe USD last week lost ground across the board following the soft US CPI report as the market priced back in two rate cuts by the end of the year. The moves were reversed soon after though as we got a bit more hawkish than expected FOMC decision where the dot plot showed that the Fed expected just one cut for this year despite the soft US CPI report. Fed Chair Powell backpedalled on the projections nonetheless making them a bit less worrying as the central bank remains very data dependent. The rally in the US Dollar eventually picked up steam as the risk sentiment turned more cautious. The GBP, on the other hand, got pressured mainly because of the risk-off sentiment and

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