The GBP/USD pair initially fell during the course of the day on Wednesday, but struggled at the 1.50 level to continue. Ultimately, this is an area that should show quite a bit of support, but the FOMC Statement will have made a significant change to the direction possibly. If we break above the top of the hammer, the market should continue to go towards the 1.52 handle. On the other hand, if we break down below the bottom of the range during the Wednesday session, this market could very well. Fall the way down to the 1.48 handle.
