Coming into this Fed meeting I would expect a bullish
GBP. Yellen cannot hike based on recent data and looking at 5y5y inflation
swaps, that also prices out a hike. At the same time, the Chinese are still offering 2-3 yards per day of USD on their swap lines. I think that GBP will have the biggest reaction to this meeting of all the pairs no matter the outcome, purely because of the disparity of good data that the UK has seen while the US has had relatively muted data. Key levels to watch for are noted in purple. Also note declining volumes leading into this meeting.
We are trading outside the market value area. We ideally want to be back at 1.33 where VPOC is. This is where longs will look to offload if we get a bullish
I am currently long from 75s so let's see if I get smashed out or not.