GBPUSD Technical Analysis – The pair bounces on a key support ...Middle East

Fundamental OverviewThe bullish momentum in the USD is starting to fade as Treasury yields continue to fall. We had two possible catalysts yesterday. The first one was the much weaker than expected US NFIB Index which dropped to a 3 month low. There wasn’t an immediate reaction in the markets on the release, but things started to move as the American session began. The second one was a comment from BoC’s Macklem where he said that bigger cuts are possible if the economy and CPI were weaker. There’s generally a groupthink with central banks, so the market might have projected that to the Fed’s decision next week. The probabilities for the Fed to cut by 50 bps at the upcoming meeting increased

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GBPUSD Technical Analysis – The pair bounces on a key support ...Middle East

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