GBP/USD: Near-term focus shifts higher on post-BoE rally
|GBP/USD
Cable is stabilizing under session high (1.3697), hit after sharp acceleration higher on BoE’s decision to stay on hold and sideline bets on negative interest rates for coming months.
Relief rally of approx. 1.5 cent significantly reduced mounting downside risk, following Wednesday’s breach of pivotal 20DMA.
This brings larger uptrend (which was paused for a shallow pullback) back on track, however, fresh recovery needs return and close above 20DMA (1.3652) to be verified and to re-focus recent peaks in 1.3750 zone.
Improved daily studies on rising positive momentum and moving averages returning to bullish setup, support the notion
Res: 1.3697; 1.3710; 1.3758; 1.3800
Sup: 1.3623; 1.3604; 1.3565; 1.3519
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