{"id":187192,"date":"2023-03-23T02:18:51","date_gmt":"2023-03-23T06:18:51","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=187192"},"modified":"2023-03-23T02:19:48","modified_gmt":"2023-03-23T06:19:48","slug":"gbpusd-nears-2023-high-ahead-of-uk-rate-decision","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/gbpusd-nears-2023-high-ahead-of-uk-rate-decision\/","title":{"rendered":"GBPUSD Nears 2023 High Ahead of UK Rate Decision"},"content":{"rendered":"\n

The GBPUSD powered almost 100 pips in the hour following the highly anticipated FOMC and Fed rate hike.\u00a0 The GBPUSD is now extending the Bull Flag (on the daily chart), and testing a massive triangle resistance (on the weekly chart).\u00a0 Odds are elevated for a fresh 2023 high and a test of the psychologically key 1.25 whole figure level by month end.\u00a0 Further bullish catalysts may arrive today 7am EST following the UK MPC official bank rate votes, monetary policy summary and official bank rate, or after the 830am EST US unemployment claims.\u00a0 The busy news week continues Friday with the UK Flash Manufacturing and Services PMI, and the US Flash Manufacturing PMI and Services PMI.\u00a0 The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.\u00a0 I am looking to go long in the green zone (of the daily chart), targeting the red zone for Wednesday.\u00a0 The amber\/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).Click here for analysis on EURUSD, GOLD<\/a><\/strong><\/p>\n\n\n\n

\"\"
Source: Interactive Brokers TWS<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

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