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GBP/USD bears reloading for cheap dollars

FXStreet (Guatemala) - GBP/USD is trading at 1.5668, up 0.24% on the day, having posted a daily high at 1.5703 and low at 1.5590.

GBP/USD has been on the bid in a come back vs the strong bear trend of late post a less dovish than expected BoE. There were two members voting for an immediate rate hike in fact despite the disinflationary pressures through the pound and oil prices. Accordingly, the pound is off its lows but meeting supply a cent higher capping the pair.

We next have the FOMC minutes and these will be closely monitored for any signs of concerns for a less competitive greenback and anything more regarding the discussions of the impact of a weaker global economy. Technically, most studies still warn of the downside risks. 1.5590 would act as the bears initial target.

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