GBP/USD Technical Analysis: Cable bearishly configured below 1.3400 ahead of FOMC

  • 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

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.