GBPUSD NOW BULLISH ABOVE 1.3400 LEVEL
The British pound has broken back above the 1.3400 level against the U.S dollar, after the FOMC monetary policy decision. The U.S dollar dropped across the board, after it was revealed that FOMC voting Members Neil Kashkari and Charles Evans dissented against hiking U.S rates in December. The GBPUSD pair now trades around the 1.3430 mark, after breaking back above the key 1.3400 level. Traders now await the release of UK Retail Sales, and the Bank of England interest rate decision and monetary policy statement.
The GBPUSD pair remains intraday bullish while trading above the 1.3400 technical level, upside resistance is now found at the 1.3470 and 1.3520 levels.
Should price-action on the GBPUSD pair fall below the 1.3400 technical level, downside support is seen towards the 1.3380 and 1.3340 levels.