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Sellers in control of GBP/USD
Last night’s Fed move has led to further weakness in cable, taking it back to key support in the region of $1.4950, with more potential support around $1.4923.
The sellers remain in control, with further downside targets around $1.4870, and then on towards $1.4780, the bottom end of the existing descending channel. A bounce would need to clear $1.50 to suggest a turnaround is in play.