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Back Technical analysis
GBP/USD – October 29: The Fed's Monetary Policy Outlook Remains Hawkish
On the hourly chart, GBP/USD reversed
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On the hourly chart, GBP/USD reversed in favor of the pound on Wednesday and posted some gains, but the pair failed to reach either the 1.3342 or 1.3263 level. Therefore, a rebound from the 38.2% Fibonacci retracement level at 1.3342 today would favor a resumption of the decline toward the 23.6% retracement level at 1.3263. A close above 1.3342 would suggest a resumption of the bullish trend toward the 50.0% Fibonacci level at 1.3404. The market remains bullish. The
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