The GBP/USD is still one of the most stable currency pairs as of the moment, with the GBP/USD pair trading way above 1.2700 points. The market is currently waiting for the results of the FOMC meeting, and it is anticipated that the market will be mainly focusing on the Federal Reserve’s activities in the coming weeks after the statement release from the central bank.
There has been no major economic releases from the UK, but the region is expected to enter a period of marked volatility due to the commencement of the actual Brexit process this coming 2017. For the European session, the claimant count change data is expected to be released into the market, and the Bank of England is also expected to make a statement, and these are expected to increase the GBP/USD pair’s volatility levels.
The market is also expecting the release of the FOMC minutes, as well as the details of the press conference which is scheduled immediately after the Fed meeting. However, the central bank’s expected decision to implement a rate hike might not cause much volatility since the majority of traders are now shifting their focus to the details of the subsequent conference, since this could give hints on the future course of the central bank this 2017. The GBP/USD is speculated to become more volatile as compared with other currency pairs, and low volume is expected before the year ends, with prices becoming highly moveable as the end of the year approaches.