GBPUSD HITS BULLISH UPSIDE TARGET
The British pound is starting come back under selling pressure against the greenback on Thursday, after briefly moving above the 1.3200 level following the FOMC rate decision. The GBPUSD pair may now start to trade back towards the 1.3113 level, after hitting its upside bullish target above the 1.3200 level. Sellers now need to break the 1.3096 level, while buyers need to stabilize price above the 1.3170 level.
The GBPUSD pair is only bullish while trading below the 1.3113 level, key resistance is now found at the 1.3170 and 1.3220 levels.
If the GBPUSD pair moves below the 1.3113 level sellers are likely to test towards the 1.3096 and 1.3053 levels.