GBP/USD declined since May but it seems that upward trend is available yet by the GBP/USD daily chart.
Rising cable turned the direction breaking the upward trend line as May began and is under the adjustment at the 4-hour chart. Uncertain economic situation presses the currency pair down but the trend line in the daily chart is effective yet, I think.
Since the international financial crisis, 2008, US Dollar value has upgraded and its trend continues. But the GBP's direction isn't shown to dive though it experiences the adjustment. It seems that cable is supported at 1.43 level.
On Wednesday, FOMC, Federal Open Market Committee of Untied States opens its meeting minutes in April and it is one of the powerful events in the currency market. FOMC decided the benchmark interest rate unchanged in April. Its minutes will show what the members of the committee think and expect. It is needed to watch the market not to trade while the minutes is opened.
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