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British Pound Driven by Fear and Greed Before Fed, BOE Meetings

British Pound Driven by Fear and Greed Before Fed, BOE Meetings

British Pound Driven by Fear and Greed Before Fed, BOE Meetings

The pound is testing a key support level ahead of monetary policy decisions this week by the Federal Reserve and the Bank of England. The so-called fear-greed indicator shows bears control price action by the most in two months, threatening a bullish trend channel that’s been in place since July. Announcements by the central banks could be the catalysts for the U.K. currency to either hit fresh lows or establish $1.36 as a line in the sand. 

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