Pound Sterling Price News and Forecast: GBP/USD fades week-start rebound
|GBP/USD Price Analysis: Impending bear cross keeps sellers hopeful around 1.2250
GBP/USD remains sidelined around the mid-1.2200s as it funnels down to the short-term triangle break during early Tuesday’s Asian session. The cable pair began the week on a positive note but fails to stay firmer as the receding bullish bias of the MACD joins the looming bearish moving average crossover between the 100-SMA and the 200-SMA.
GBP/USD outlook: Action in early Monday lacks direction but overall picture remains bearish
Cable is consolidation after 1.1% drop on Friday, which was contained by 5DMA, with a narrow range in early Monday suggesting a lack of direction. Daily studies are bearishly aligned with strong negative momentum and MA’s in bearish setup that keeps the downside vulnerable.
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