GBPUSD continues to decline deeply

٢٨ سبتمبر ٢٠٢٣

Greetings to everyone. The pair of GBP/USD is currently experiencing a downward trend, with the current trading value at 1,2141. This decline can be attributed to the sudden suspension of interest rate hikes by the British Bank (BoE), while the Federal Reserve (Fed) has indicated a more hawkish stance and hinted at potential future interest rate increases. The discrepancy in monetary policies between BoE and Fed has put significant pressure on the pound (GBP) and is posing challenges for the GBP/USD pair.

Attention about news: At the end of the day, the US Census Department will publish durable orders for August. This is expected to be a positive news for GBPUSD.

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