GBP/USD declines towards 1.1940 amid cautious market mood, Fed commentary ahead
The GBP/USD pair is seeking a cushion around the immediate hurdle of 1.1950 in the early Tokyo session. The Cable displayed volatile moves on Tuesday after failing to sustain above the psychological resistance of 1.2000 as the FX domain turned currency-specific.
Will GBP/USD drop to the 1.1930 level?
Looking at GBPUSD’s chart, we can see that the FX pair fell below the level of $1.20 and if it fails to rise above it, then we could expect a further drop of the rate towards its support level at around $1.1930.
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