Pound holds to its latest gains against the greenback, trading a few pips above the 1.6100 level, yet confined to a limited range is a soporific market, particularly when it comes to European figures. Price stands close to a daily descendant trend line coming from July high of 1.7190 today converging with Monday high in the 1.6145 price zone.
The lack of directional strength has left 4 hours indicators flat albeit in positive territory, while 20 SMA presents a mild bullish tone below current price, offering dynamic intraday support at 1.6075. Neutral to bullish, the upside is favored on a break above mentioned 1.6145 towards the 1.6200 price zone, whilst below 1.6070, the pair’s bearish run may extend down to 1.6030 price zone.
View Live Chart for GBP/USD
The lack of directional strength has left 4 hours indicators flat albeit in positive territory, while 20 SMA presents a mild bullish tone below current price, offering dynamic intraday support at 1.6075. Neutral to bullish, the upside is favored on a break above mentioned 1.6145 towards the 1.6200 price zone, whilst below 1.6070, the pair’s bearish run may extend down to 1.6030 price zone.
View Live Chart for GBP/USD
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.