Cable continues to move in ranges ahead of FOMC statement. US dollar marginally higher across the board on a quiet session after mid-term elections. The GBP/USD pair erased losses during the last hour and rose back above 1.3100. Earlier bottomed at 1.3085 and then bounced to the upside. It hit a session high at 1.3129 and then pulled back to 1.3115. Price action remains limited ahead of the FOMC meeting among majors. Cable continues to hold a bias skewed to the downside despite the recent bounce from the lows. News about Brexit today had a limited impact on the pound and US dollar strength has been so far, the main driver in GBP/USD. At 19:00 GMT, the Federal Reserve will release its statement. No change in rates is expected and attention will focus on the words of the statement. In the case of no surprises, market reaction could be muted, favoring the ongoing consolidation in GBP/USD. Levels to watch To the upside, the immediate resistance is seen at 1.3130 (US session high), followed by 1.3150 (Nov 8 high) and 1.3175 (Nov 7 high). On the flip side support levels might be located at 1.3085 (Nov 8 low), 1.3055/60 and 1.3020 (Nov 6 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Technical Analysis: Euro rejecting 1.1430 resistance ahead of FOMC FX Street 4 years Cable continues to move in ranges ahead of FOMC statement. US dollar marginally higher across the board on a quiet session after mid-term elections. The GBP/USD pair erased losses during the last hour and rose back above 1.3100. Earlier bottomed at 1.3085 and then bounced to the upside. It hit a session high at 1.3129 and then pulled back to 1.3115. Price action remains limited ahead of the FOMC meeting among majors. Cable continues to hold a bias skewed to the downside despite the recent bounce from the lows. News about Brexit today had a limited impact… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
