Kickstart the FX trading for May 2 w/a technical look at the EURUSD, USDJPY and GBPUSD | Forexlive

The Fed decision has come and gone with its share of volatility. Having said that, the EURUSD and GBBUSD has followed the roadmap outlined before the rate decision.

For both the EURUSD and the GBPUSD, the pairs moved up to technical resistance targets, before rotating lower. Today, the pairs have retraced gains from yesterday with the EURUSD falling to the 100 and 200 hour MAs near 1.0695 to 1.0699 and stalling. That will be its barometer in the US session.

The GBPUSD fell to its 50% midpoint of the April trading range near 1.2500. That level will be the barometer for traders today.