- GBP/USD has been gaining ground in a rising wedge shape for the most part of the day. The formation is potentially bearish. Cable has not been able to break above the 1.3400 resistance so far on Wednesday.
- Investors are awaiting the FOMC rate decision at 18:30 GMT. Join the Fed Live Coverage – Today at 17:30 GMT, click here.
GBP/USD 15-minute chart
Spot rate: 1.3384
Relative change: 0.09%
High: 1.3390
Low: 1.3308
Trend: Bearish below 1.3500
Resistance 1: 1.3400 figure
Resistance 2: 1.3590 daily 200-period simple moving average
Resistance 3: 1.3700 figure
Support 1: 1.3344, daily 10-period SMA
Support 2: 1.3300 figure
Support 3: 1.3254 June 1 swing low
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