The GBP/USD pair originally when higher during the session on Wednesday, but as you can see the 1.6650 level offered enough resistance to push the market back down. We fell as low as 1.65 during the session, but that support level did hold true, although we ended up forming a negative candle overall. This would been predicated mainly upon the idea that the Federal Reserve suggested that interest rates in the United States would be as high as 1% by the end of next year. At the end of the day though this pair has been very bullish for some time, and as a result we are not willing to step in and start selling.
