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29 Jul 2015
GBP/USD completes roundtrip after Fed
FXStreet (Córdoba) - GBP/USD retraced completely intraday gains and is back to square one following Federal Reserve statement on monetary policy.
The dollar strengthened across the board after the Fed voted unanimously to keep rates on hold and modified slightly its language. The FOMC anticipates that it will be appropriate to raise rates “when it has seen some further improvement in the labor market".
GBP/USD pulled back from a 4-week peak of 1.5689 to the 1.5600 area, where it currently trades, virtually unchanged on the day.
GBP/USD technical levels
In terms of technical levels, Cable could see next supports at 1.5587 (Jul 29 low), 1.5525 (Jul 28 low) and 1.5490 (Jul 27 low). On the other hand, resistances line up at 1.5700 (psychological level) and 1.5730 (Jul 1 high).
The dollar strengthened across the board after the Fed voted unanimously to keep rates on hold and modified slightly its language. The FOMC anticipates that it will be appropriate to raise rates “when it has seen some further improvement in the labor market".
GBP/USD pulled back from a 4-week peak of 1.5689 to the 1.5600 area, where it currently trades, virtually unchanged on the day.
GBP/USD technical levels
In terms of technical levels, Cable could see next supports at 1.5587 (Jul 29 low), 1.5525 (Jul 28 low) and 1.5490 (Jul 27 low). On the other hand, resistances line up at 1.5700 (psychological level) and 1.5730 (Jul 1 high).