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GBP/USD holds 1.63 ahead of the Fed showdown

FXStreet (Guatemala) - GBP/USD is trading at 1.6313, up 0.22% on the day, having posted a daily high at 1.6360 and low at 1.6249.

GBP/USD has been scoring ground on the 1.63 handle upon speculation based upon recent polls favouring the Yes camp in respect of the Scottish vote. The move was relatively short lived due to a benign set of BoE minutes and a mixed employment report. With the FOMC looming, traders are arms folded and preparing for the event. The language is key here and any changes there could well be dollar positive in light of an earlier than expected first rate hike.

GBP/USD hourly levels

With spot trading at 1.6313, we can see next resistance ahead at 1.6340 (Daily Classic R1), 1.6347 (Weekly Classic R1), 1.6360 and 1.6400 (Daily 20 SMA). Support below can be found at 1.6299 (Hourly 20 EMA), 1.6278 (Weekly High), 1.6251 (Daily Classic PP) and 1.6250 (Hourly 100 SMA).

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