Pound Sterling Price News and Forecast: GBP/USD hits resistance at 1.1400 after a 300-pip rally
|GBP/USD bulls take a breather around 1.1330 with eyes on US Retail Sales, Michigan CSI
GBP/USD seesaws near 1.1330 as bulls await fresh catalysts to extend the biggest daily jump in two weeks. In doing so, the Cable pair pauses the two-day uptrend around the weekly top. A slight clarity on the UK government’s mini-budget, as well as the US dollar’s broad declines, could be linked to the quote’s latest run-up.
GBP/USD’s rally from 1.1050 hits resistance right below 1.1400
The pound seems to be taking a breather as the impressive 300-pip rally from the 1.1060 area has found sellers at 1.1380 before pulling back to the lower range of 1.1300. The pound remains positive on daily charts after having appreciated beyond 3% over the last two days.
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