EUR/GBP:Bulls are driving the car & heading north.

June 14 , 2018

 

By witnessing the daily chart we can see that bulls are driving the car and heading towards north side. The recent candles are full of bullish momentum and indicating further bullish signal and presently pair is trading above all major and minor EMA lines.

 

 

From technical prospective we can observe that and asceding triangle has been posted on the daily chart which is generating bullish signal and we will get further bullish momentum above the 0.8826 level which is a strong make or break level. The traders and investors are advised to wait for the valid breakout of the triangle’s horizontal line. A bullish crossover on MACD indicator is supporting the bulls  and histogram are favoring the bulls.RSI is also favoring the bulls from positive territory.

 

 

 

 

The Federal Reserve lifted up the range for the fed funds target rate by another 25bp to 1.75%-2.00%. The interest paid on surplus reserves was lifted by only 20bp in order to carry the effective fed funds rate back to the middle of the target range.

 

 

The updated Summary of Economic Projections contained some minor upgrades to the growth and inflation outlook. The main change was arguably the upward move of the 2018 dot. The majority of the FOMC now expects a total of four rate hikes this year (up from three), which is in line with our baseline forecast.

 

 

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