GBP/USD slips following Yellen comments
With cable back below $1.54 it looks like we may be seeing the beginning of a major move lower, but first the sellers need to push us back below $1.5360, where the declines have been stemmed all the way through this week. A move through there is needed before the sellers really have the upper hand. Should this occur, then the $1.5313 and then $1.5266 levels become the areas to watch for support. A break back above $1.54 needs to clear $1.5450 to avoid simply replicating the consolidation that has prevailed this week.