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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.

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