GBP/USD continued its fall early on Wednesday to hit a major support area around the 1.4250 level, before bouncing. This drop modestly extended the currency pair’s substantial retreat this week from its 50-day moving average and the 1.4500 level. In the process, this retreat has erased much of the gains made during the upside pullback of late January and early February, and could be the precursor to a continuation of the longstanding bearish trend. Though the minutes of January’s Federal Open Market Committee (FOMC) meeting, which are scheduled to be released on Wednesday afternoon, may.....
