Pound Sterling Price News and Forecast: GBP/USD looks cheap for good reason
|GBP/USD Price Analysis: Further upside hinges on 1.2310 breakout, UK inflation
GBP/USD struggles to extend the weekly rebound as bulls take a breather around 1.2275 during Wednesday’s Asian session. In doing so, the cable pair funnels down to the short-term triangle break. However, the quote’s successful trading above the 100-HMA and 200-HMA, as well as the RSI’s support to the recent higher lows on prices, keeps the pair buyers hopeful.
GBP/USD: Looks cheap for good reason
I’m tempted to look at a higher time frame chart of GBP/USD and say it looks cheap. Whether the pound has fallen due to the flash crash or COVID-19 concerns, buyers have always been quick to snap up GBP/USD anywhere between 1.24 and 1.16 levels. That might ultimately hold out to be true, but I’m not completely convinced that history will repeat itself.
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