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Forex: GBP/USD pierced 1.5600 after Fed decision

FXstreet.com (Barcelona) - The sterling is picking up pace after the FOMC statement on Wednesday, climbing to the vicinity of 1.5610 although retreating soon after to the current region of 1.5585/90.

“The Federal Reserve delivered as expected. Its economic assessment was little changed, not being swayed one way or the other by most of the high frequency data… Choppy price action was seen in the immediate aftermath, but net-net, the market is looking beyond the steady-as-she-goes Fed and toward tomorrow's ECB meeting and Friday's US employment report”, assessed Marc Chandler, Analyst at BBH.

As of writing, the pair is advancing 0.33% at 1.5584 with the immediate resistance at 1.5606 (50% of Jan-mar decline) followed by 1.5690 (high Feb.13) and then 1.5810 (high Feb.11).
On the flip side, a breach of 1.5528 (hourly low May 1) would then target 1.5476 (low Apr.29) and finally 1.5418 (low Apr.26).

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