GBP/USD holds above 1.2900 after FOMC meeting

GBP/USD barely reacted to the FOMC minutes and continued to trade a few pips above 1.2900 as they failed to provide clarity on Fed’s rates path.

Given that Fed minutes took place 8 days before the Brexit votes, members agreed it was “prudent to wait for additional data regarding labor market conditions as well as information that would allow them to assess the consequences of the U.K. vote.”

GBP/USD was last trading at 1.2920, 100 pips below its opening price, having swung between a fresh 31-year low of 1.2797 and a session peak of 1.3015.

GBP/USD levels to watch

In terms of technical levels, immediate supports are seen  at 1.2797 (Jul 6 low) and 1.2700 (psychological level). On the other hand, resistances line up at 1.3015 (NY session high),  1.3119 (Jun 27 low) and 1.3430 (10-day SMA).