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GBP marking territory in 1.62 handle post Fed

FXStreet (Guatemala) - GBP/USD is trading at 1.6293, up 0.10% on the day, having posted a daily high at 1.6360 and low at 1.6249.

After some volatility, GBP/USD is lower post the release of the Fed decision to keep rates on hold and having reduced their asset purchasing programme to $10B from $15B. What is key here is that they will be keeping the considerable time pledge for low rates post QE for now. We now await Yellen’s commentary in the press conference who will be enlightening the markets around their statement and changes in language.

GBP/USD near term levels

Current price is 1.6294, with resistance ahead at 1.6297 (Hourly 20 EMA), 1.6314 (Yesterday's High), 1.6340 (Daily Classic R1), 1.6347 (Weekly Classic R1) and 1.6360 (Daily High). Next support to the downside can be found at 1.6278 (Weekly High), 1.6277 (Daily Open), 1.6251 (Daily Classic PP), 1.6250 (Hourly 100 SMA) and 1.6249 (Daily Low).

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