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Forex pairs in this Article » GBP/USD (Córdoba) - The Cable bounced toward the 1.5875 zone, to briefly trade flat for the day, after the minutes of the latest FOMC meeting revealed that members generally considered as effective in lowering long-term rates and a number of participants indicated that additional asset purchases would likely be appropriate next year.

GBPUSD jumped right after the release as the greenback weakened, but the rise was short lived and the pair quickly moved back closer to its 2-month low scored earlier at 1.5838. At time of writing, GBPUSD is quoting at the 1.5850 zone, 0.1% below its opening price.

"The technical outlook remains bearish for the near term, although further consolidation can be expected", says Richard C. Lee, analyst at "For the moment, GBPUSD is keeping to support at 1.5850. Penetration lower would open scope for an immediate test at 1.5741 61.8% fib support".
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