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

The Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Wednesday, Aug. 25, 2021. President Biden yesterday tossed aside party divisions that nearly sunk his economic agenda and credited Speaker Pelosi's "masterful" leadership in getting the fractious House Democratic caucus to adopt a $3.5 trillion budget resolution. Photographer: Stefani Reynolds/Bloomberg , Bloomberg

Vassilis Karamanis, Bloomberg News

Sep 22, 2021

Share

(Bloomberg) -- 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. 

©2021 Bloomberg L.P.