later tonight we'll see FED decision on rate hike, consensus at 25 pips, due to the collapse on the banking sector and probable cause for fast hikes. BUT remember the feds priority is to lower inflation rate, with soft landing preferred. ECB has maintained their 50-bps hike regardless. My view is that FED will surprise the market with 50 bps hike tonight. And cause a rally in the dollar, sending GBP down 400 pips. UK interest is at 4.25% after the next hike soon this week. With US interest rate at 5.25% , Based on forward rate calculation we may be re-visiting below 1.18.
I'm going for short once the pair Blips higher to next resistance.
I'm going for short once the pair Blips higher to next resistance.