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GBP/USD Signal - USD Interest Rate Decision - 27 Jan 2021

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Signal Details
Entry Price: 
1.3740
Take Profit: 
1.3800
Stop Loss: 
1.3675
Direction: 
Buy
How we trade
Average: 5 (1 vote)

GBPUSD is trending to the upside prior to the USD Interest Rate decision. A rate hike tends to boost the local currency, as it is understood as a sign of a healthy inflation. A rate cut, on the other hand, is seen as a sign of economic and inflationary woes and, therefore, tends to weaken the local currency. Technically the pair is trending above the moving averages and the 1.3700 pivot, and we anticipate continued upside into the 1.3800 level.

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.