17 Dec 2014
GBP/USD drops below 1.5700 ahead of FOMC statement
FXStreet (Córdoba) - GBP/USD failed to hold above 1.5700 as the US dollar strengthened across the board ahead of the Federal Reserve decision on monetary policy and Janet Yellen press conference.
The pair printed a fresh low at 1.5638 and currently trades at 1.5660/65, down 0.50% for the day. Since the beginning of the American session lost 75 pips and moved away from the short term resistance located at 1.5735/40.
The slide brought the price near weekly lows that lie slightly above 1.5600. If it breaks lower it would be trading at 1-week lows and would leave 2014 lows exposed.
The pair printed a fresh low at 1.5638 and currently trades at 1.5660/65, down 0.50% for the day. Since the beginning of the American session lost 75 pips and moved away from the short term resistance located at 1.5735/40.
The slide brought the price near weekly lows that lie slightly above 1.5600. If it breaks lower it would be trading at 1-week lows and would leave 2014 lows exposed.