Start the week of June 13, 2022 with our Forex forecast focusing on major currency pairs here.
The British pound has rallied during most of the week but gave back quite a bit of the gain as more of a “risk-off” environment came into the markets.
the market is more likely than not going to continue to pull back a bit, but I don’t necessarily think this is the end of the uptrend. It’s only a matter of time before you break down below the 1.05 level and go looking to the 1.04 level., and even though we had pulled back both Thursday and Friday, buyers came back in to pick up this market. With the Federal Reserve having to tighten monetary policy as aggressively as they will, and the Bank of Japan looking to keep interest rates down, this is a perfect storm for this pair to continue blasting off to the upside.
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