GBP/USD Is Moving Up

GBP/USD fell sharply after the FOMC rate decision announcement but after that move to the downside the pair consolidated for a while and eventually found some support at 1.5250. It bounced off that support and now it is most likely headed for the resistance at 1.5310 which coincided with (MA)89 on the one-hour filter chart. That said, as you can see from the screenshot above, that (MA)89 has served as a persistent resistance for quite a while now, so it is quite possible that the pair will not be able to break above 1.5310 and will move to the downside again.