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Daily Market Analysis from ForexMart
GBP/USD Fundamental Analysis: November 22, 2017

The GBP/USD pair remains trading in a tight manner since yesterday, which is similar to the market’s activity. After dealing with high volatility on Monday, the traders were able to prepare themselves for a greater battle beforehand which was actually marked by the ranges that reduced over time. While the market is currently waiting for future events that will take place.
According to projections, this week would be a busy time for pound traders due to some positive actions and sudden stabilization of the sterling amid the issues on domestic politics and other foreign concerns in the wake of uncertainties in Germany.
None of these were able to bring an impact against the GBP so far, as the British currency continuously trading in a robust manner for this week. This is expected to be put to test for today due to some major economic releases scheduled from the United States and the United Kingdom.

In Britain, the autumn forecast statement to be issued during the late London session will essentially provide assumptions regarding the current status of the economy and will also give future events of the economy. This data is annually published which could also possibly provide hints about the considerations of the Bank of England regarding inflation and rate increase in the first half of 2018. Hence, any signs of hawkishness within this report is expected to move the sterling to the 1.34 level.

In the American session later will be releasing the FOMC minutes that is highly anticipated by the market in order to determine the Fed’s decision towards rate hike next month. There is high chance that the Federal Reserve will allow the raise in December, however, the markets are waiting for some confirmation signal along with the timeline of the rate increase. The pound will experience a very volatile day.
Andrea ForexMart, Official Representative
ForexMart
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