FXStreet Currently, the GBP/USD daily loss -0,01 % in 1,2959, after the day’s high at 1.3000 and the Low of 1,2927 were formed.
The DXY showed on the FOMC meeting minutes of a subdued reaction, and so the Cable from the 1,2931 could rise to 1,2970. The Fed said that they needed more data, so the recent weakness can be classified as temporary. Only a continuation of the interest rate increases.
GBP/USD technical levels
The FXStreet chief analyst Valeria Bednarik sees immediate support at 1,2950 and only 1,2830 (based on the last week range) will be confirmed a continuation of the decline, what is in front of the 8. June is unlikely. “Gains above 1.3000 are likely to be used as a selling opportunity. An increase of about 1,3060 will trigger some stops and the result are profits to 1,3120.”
** FXStreet News Editorial, FXStreet**