GBP/USD nosedived more than 150 pips and fell from 1.2000 to 1.1840s.
Hawkish commentary by the US Federal Reserve Chair Jerome Powell at the Senate keeps investors assessing a 50 bps hike in March.
GBP/USD Price Analysis: A breach of the YTD low at 1.1841 could drag the pair towards the 1.1800 figure.
GBP/USD plunges over 100 pips as the US Federal Reserve (Fed) Chairman Jerome Powell testifies at the US Senate on Tuesday. The US Dollar is rising despite US Treasury bond yields dropping. At the time of writing, the GBP/USD is trading at 1.1854 after hitting a daily high of 1.2065.
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