The advance 2Q U.S. Gross Domestic Product (GDP) report may boost the appeal of the green- back and spark a further decline in EUR/USD as signs of a stronger recovery fuels expectations for a 2015 Fed rate hike. Despite the unanimous vote to retain the current policy in July, a marked rebound in the growth rate may put increased pressure on the Federal Reserve to re- move the zero-interest rate policy (ZIRP) sooner rather than later as the committee remains confident in achieving the 2% target for inflation over the policy horizon Increased production paired with the pickup in building activity may encourage a strong GDP print, and a faster rate of growth may heighten the bllish sentiment surrounding the greenback as it boosts interest rate expectations.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
SELL GBP/USD BELOW 1.5580 TARGET 1.5560 1.5530 SL 1.5610
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