Forex Trading: Sterling struggling with a very important, long term level ahead of FOMC...

Sterling struggling with a very important, long term level ahead of FOMC. As you can see on the daily chart below, this level is absolutely critical to the pair, should it wish to stay up in these regions. There is considerable interest on either side of the market and we've heard analysts with intelligent arguments for both a higher and a lower Pound that sound reasonable. So keep an eye out for these levels...