Currency Pair of the Week - GBP/USD

The highly anticipated FOMC Meeting concludes on Wednesday, followed closely by the BOE’s interest rate decision on Thursday. Speculation is rampant on what both central banks will do in the face of persistent inflation along with growth concerns, and this could see volatility in GBP/USD spike this week.

Cable’s longer-term move lower accelerated in April, with the pair briefly touching its lowest level since 1985 on Friday. While it continues to consolidate around this level, a divergence on the RSI is indicating that the pair may be ready to bounce.

Will GBP/USD be able to bounce this week, or is it due for another sharp leg lower?

Check out this article for an insight into what to expect from both central bank meetings and how it could impact the pair:

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