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21 May 2014
GBP/USD unchanged on minutes as expected
FXStreet (Guatemala) - GBP/USD is trading at 1.6875, up 0.21% on the day, having posted a daily high at 1.6923 and low at 1.6831.
The main points from the FOMC minutes were the discussions around there being a shortage of workers in the business sector, and that it is too early to really confirm that the economy is growing sustainably above trend growth. The dollar is unchanged for the most part on the back of the release and markets continue to speculate for a rate rise in a years time from now while the Fed will continue to taper the QE programme.
GBP/USD Levels
Current price is 1.6877, with resistance ahead at 1.6899 (Weekly Classic R1), 1.6901 (Daily Classic R2), 1.6923 (Daily High), 1.6935 (Daily Classic R3) and 1.6975 (Monthly High). Next support to the downside can be found at 1.6870 (Daily Classic R1), 1.6868 (Yesterday's High), 1.6867 (Hourly 20 EMA), 1.6839 (Daily Open) and 1.6839 (Weekly High).
GBP/USD chart formations
Looking at price patterns, we can see a Dark Cloud Cover 1-hour candlestick formation.
The main points from the FOMC minutes were the discussions around there being a shortage of workers in the business sector, and that it is too early to really confirm that the economy is growing sustainably above trend growth. The dollar is unchanged for the most part on the back of the release and markets continue to speculate for a rate rise in a years time from now while the Fed will continue to taper the QE programme.
GBP/USD Levels
Current price is 1.6877, with resistance ahead at 1.6899 (Weekly Classic R1), 1.6901 (Daily Classic R2), 1.6923 (Daily High), 1.6935 (Daily Classic R3) and 1.6975 (Monthly High). Next support to the downside can be found at 1.6870 (Daily Classic R1), 1.6868 (Yesterday's High), 1.6867 (Hourly 20 EMA), 1.6839 (Daily Open) and 1.6839 (Weekly High).
GBP/USD chart formations
Looking at price patterns, we can see a Dark Cloud Cover 1-hour candlestick formation.