GBP/USD fell steeply during Wednesday’s American market session, extending a decline through the 200-day Exponential Moving Average (EMA) and pushing Cable positioning even further into bear country.

The Australian Dollar dropped on Wednesday after the US Federal Reserve cut rates by 25 basis points but signaled that the December’s meeting remains open, after Powell said that a cut is far from a done deal.

While we are not at the end of the week, the Nasdaq has tagged resistance on the weekly time frame.