The drop now sees the pair test support at the 1.1200 handle, with the November low @ 1.1186 coming into focus.
A break below that could spell more danger to the downside, opening up the path towards 1.1000 potentially.
The dollar continues to ride the post-Fed sentiment in keeping higher today, establishing firm convictions across the board. GBP/USD is down to near 1.3400 now while AUD/USD has fallen to 0.7070 with little in the way of a potential drop to 0.7000. Elsewhere, NZD/USD is also making fresh lows since November 2020 to 0.6600 with little support seen until 0.6500 next.
The more hawkish Fed take yesterday is the key driver at the moment and while the reality of a rate hike at every meeting this year may not be set in stone, it wasn't denied by Powell yesterday. And that is enough to see markets moving now to take a run at key technical levels as noted above.
