GBP/USD is rising traders expect the Fed to take a pause in raising rates after the two scheduled rate hikes before autumn. They believe the central bank will analyze the situation of the economy before taking any action, prompting dollar demand to decrease.
technical picture:
The quote is above the upper line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is above 50% and is moving horizontally, while the stochastic indicator is moving up.
Possible dynamics:
A consolidation above 0.7130 may lead to a local growth to 0.7225.
