Pound Sterling Price News and Forecast: GBP/USD finally reacts to risk appetite
|GBP/USD Price Analysis: 200-SMA, previous resistance line test pullback above 1.3800
GBP/USD consolidates recent gains around 1.3825 amid Monday’s Asian session. In doing so, the cable sellers jostle with an ascending support line, previous resistance, from April 08 and 200-SMA while staying below a one-month-long resistance line.
Given the bullish MACD and the strength of the 1.3825-20 immediate support confluence, the quote is likely to portray another attempt to cross the key resistance line around 1.3855.
GBP/USD Forecast: Pound finally reacts to risk appetite
The British Pound was the most benefited from risk-appetite, recovering from an intraday low of 1.3715 on Friday to hit a weekly high of 1.3842, closing it a handful of pips below the level. The impressive U-turn had no particular catalyst but speculative interest moving away from the greenback and jumping into high-yielding assets. The fact that the pair settled above the 1.3800 threshold opens the door for another leg north this week.
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