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20 Feb 2013
Forex: GBP/USD extends declines after FOMC minutes
The Sterling has reacted down against the US Dollar following the FOMC minutes release. The GBP/USD broke down the 1.5280 support to reach the lowest level since July 2010 at 1.5190. Currently the Cable is trading at 1.5225, 1.30% below opening price action.
Among another headlines, the hawkish minutes said that most of FOMC members said fed should be prepared to vary QE pace and a member said Fed might taper,end purchases before job market substantially improved.
Next support lies at 1.5190 (61.8% of 1.4228-1.6747), ahead 1.5000 psycological level and 1.4230. Resistances come at 1.5300, 1.5325 and 1.5350.
Among another headlines, the hawkish minutes said that most of FOMC members said fed should be prepared to vary QE pace and a member said Fed might taper,end purchases before job market substantially improved.
Next support lies at 1.5190 (61.8% of 1.4228-1.6747), ahead 1.5000 psycological level and 1.4230. Resistances come at 1.5300, 1.5325 and 1.5350.