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Forex pairs in this Article » GBP/USD (New York) - The GBP/USD foreign exchange rate has jumped to session highs Wednesday, mounting gains during the US session ahead of the FOMC.

GBP/USD still bullish

Presently, the GBP/USD is still growing at a rate of +0.19% above its opening Wednesday, having settled at 1.5674. “As the bull trend persists any downside for the GBP/USD will be limited with a strong support at 1.5468. Broader focus is on the strong resistance at 1.5789; a closing break above this would be further positive opening 1.5879, suggesting a bullish intraday outlook.” notes Geoffrey Yu, a Research Analyst at UBS.

GBP/USD must sustain 1.5605 for upside

According to the Technical Analyst Team at, “The GBP/USD consolidated on the support level around 1.5605 then moved to the upside again. We count on the 1.5605 level and expect an upside move during the U.S. session, pointing out the importance of trading again above 1.5685 to prove this outlook.”
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