- Liquidity not the best at the moment, as USD position covering continues
- EUR/USD reached a high of 1.1160, just to fall back to 1.1110 a few minutes later
- Cable is also extending gains; 1.5550 is the significant tech resistance level
- The rally in GBP/USD looks strongly overextended, but difficult to sell into this, especially given the poor liquidity
- However, should we see 1.5550 today, it is definitely worth to short it there with a stop at 1.5610, for a retracement back to at least 1.53
The post Sharp moves in FX ahead of FOMC meeting appeared first on www.forextell.com.