The GBP/USD pair fell hard during the course of the day on Wednesday after the Federal Reserve released a fairly hawkish statement. However, the 1.60 level is significant support, so one has to wonder whether or not we will bounce from there. At the time of writing, this candle is very negative, so therefore we are not willing to buy quite yet, but we need to see what happens over the next 24 hours in order to place her next trade. We do prefer buying, but recognize that the metrics may have changed due to the Federal Reserve itself.
