The GBP/USD pair jumped to hourly 100-MA of 1.4258 as dollar continued to take a beating after Fed backtracked from December’s hawkish view. Yellen offers not support to USD Fed’s Yellen, during her press conference, squashed whatever little hopes USD bulls had about a recovery. Yellen blamed overseas conditions for downward revision of interest rate forecasts and said the policy tightening is not on a preset course. Consequently, Cable remains well bid, currently hovers below hourly 100-MA level of 1.4258 levels after having set a session high of 1.4273 levels. GBP/USD Technical Levels The immediate hurdle is seen at 1.4273 (session high), above which the spot could target 1.4330 (23.6% of 1.5930-1.3835). On the other hand, a breakdown of immediate support at 1.4237 (hourly 100-MA) would open doors for a slide to 1.4182 (hourly 50-MA). For more information, read our latest forex news.