GBP/USD Technical Analysis: Cable spikes to 1.3100 figure post-FOMC

GBP/USD daily chart

• GBP/USD is trading above its 100 and 200 SMAs as the market is testing the 1.3100 figure and the 50 SMA.
• The Federal Reserve Monetary Policy Statement was seen as dovish weakening the USD across the boards.

GBP/USD 4-hour chart

• GBP/USD is trading above its main SMAs suggesting bullish momentum in the medium-term.

GBP/USD 30-minute chart

• GBP/USD is trading above its main SMAs suggesting a bullish bias in the short-term.
• Bulls are challenging 1.3100 figure. A break above the level seems imminent. 1.3150 should become the next target.
• On the way down, support is at 1.3050 and 1.3000 level.

Additional key levels