Forex: GBP/USD falls from highs after Bernanke speech
Forex pairs in this Article »
GBP/USD
FXstreet.com (San Francisco) - After climbing to the 1-month high at 1.6170 after the Federal Reserve interest rate decision, the GBPUSD has been rejected at this level with the pair falling back to 1.6135 following the Ben Bernanke speech.
Currently the GBPUSD is trading at 1.6140, 0.17% above opening price action. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com commented that as long as GBPUSD holds above 1.6130, the pair may attempt to continue towards 1.6220 area next resistance. "We have 1.6308 the yearly high, so that would be next natural target for the upward movement".
At a press conference following the Fed monetary policy statement, Fed Chairman Bernanke said that high unemployment is a huge waste and accommodation policies are designed to boost the economic recovery and cut unemployment while maintaining price stability.
Currently the GBPUSD is trading at 1.6140, 0.17% above opening price action. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com commented that as long as GBPUSD holds above 1.6130, the pair may attempt to continue towards 1.6220 area next resistance. "We have 1.6308 the yearly high, so that would be next natural target for the upward movement".
At a press conference following the Fed monetary policy statement, Fed Chairman Bernanke said that high unemployment is a huge waste and accommodation policies are designed to boost the economic recovery and cut unemployment while maintaining price stability.
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