GBP/USD Reaction to Federal Reserve’s decision
Initially, the GBP/USD edged towards its daily high of 1.2512 before retreating beneath 1.2500. Due to the lack of follow-through, the pair could be testing the lows of the day at 1.2466 if the Fed Chairman Jerome Powell delivers some hawkish remarks. The next key support level beneath that would be the April 26 low at 1.2448, followed by the 1.2400 figure. On the upside lies the 200-day moving average (DMA) at 1.2552
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