FxWirePro: GBP/USD drifts lower as greenback firms

• GBP/USD eased on Wednesday as greenback firmed following release of December Fed meeting minutes.

• The U.S. Federal Reserve agreed to cut interest rates at its December meeting only after an extensive and nuanced debate over the risks facing the U.S. economy, minutes of the two-day meeting showed.

• The Fed minutes showed that several rate-cut supporters viewed the decision as finely balanced, with some saying they could have backed no change amid competing U.S. economic risks.

• The data catch-up continues, with jobs and consumer price information for December coming on January 9 and January 13, back to the normal release schedule.

•The Fed next meets on January 27-28, with investors currently expecting the central bank to leave its benchmark rate unchanged.

•   Immediate resistance is located at 1.3483(50%fib), any close above will push the pair towards 1.3539(Higher BB)

•  Strong support is seen at 1.3400(SMA20) and break below could take the pair towards 1.3375(61.8%fib).

  Recommendation: Good to sell around 1.3460, with stop loss of 1.3540 and target price of 1.3360.