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Forex: GBP/USD falls on Fed comments to 1.5129/34

The GBP/USD has been on the losing end of the comments out of the Fed testimony today, entrenching itself in negative territory on the heels of the announcement earlier today. At the time of writing, the pair is recording fresh session lows at 1.5129/34, down -0.18%.

“The GBP/USD failed to stabilize above the 1.5190–1.5225 levels reflecting the heavy negative pressure on the pair. Therefore, we will return to negativity again as stability below 1.5310 levels keeps the possibility of the downside move valid.” warns the ICN.com analyst Team.

In the United States, Consumer Confidence (February) has risen to 69.6, against expectations calling for 61.0. Earlier today, the Housing Price Index (MoM) came in at +0.6% in the month of December, consistent with expectations calling for the same growth.

ICN.com analysts point to calculated support 1.5080 onto 1.5035, and finally 1.5000. On the positive side, a prolonged break to the 1.5185 level will open up resistances towards 1.5200 and 1.5225.

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