GBPUSD Technical Analysis – The USD gets a boost from Powell’s comments ...Middle East

Fundamental OverviewThe US Dollar got a bit of a boost this week as Fed Chair Powell reiterated that 50 bps of easing by year end remains the base case. The market’s probability for the Fed to cut by 50 bps in November fell from 51% to 40% as a result.On the data side, the ISM Manufacturing PMI released yesterday missed expectations slightly. On the bright side, the new orders index improved a little which might be an early signal of better times ahead. By contrast, the employment component fell further into contraction but remained above the cycle low.On the GBP side, the UK PMIs last week were a touch softer than expected but still solid compared to its peers. The market expects the BoE to

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GBPUSD Technical Analysis – The USD gets a boost from Powell’s comments ...Middle East

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