GBP/USD is consolidating in narrow trading range of 1.2990 – 1.1240 before major event FOMC & FED rate decision that is due in 45 mins

Volatility is still low, as traders are waiting for FED Rate decision and we are likely to experience very high volatility.


– FOMC Statement
– FED Interest Rate decision (They are likely to keep it unchanged 0.50%)
– FOMC Press Conference (Look for any clues about rate hike, I am expecting dovish tone)

The Unchanged rate at 0.50% is likely to weaken USD, causing buy in GBPUSD.

Technical Levels:

S: 1.2881 1.2926 1.2954
Pivot: 1.2999
R: 1.3044 1.3072 1.3117

– Breakage of resistance @ 1.2990 is likely to lead market towards 1.3080.
– Breakage below 1.2940 is likely to lead market to 1.2875

Recommendation: Good to Buy Above 1.3000 SL: 1.2975
TP: 1.3040/ 1.3080/1.3140


4 thoughts on “SCALP ALERT – GBPUSD awaits FOMC”

  1. only ingthend says:

    good piece of analysis. thanks sir

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