Pound Sterling Price News and Forecast: GBP/USD struggles to extend recovery moves from previous resistance line
|GBP/USD Price Analysis: Key DMAs test up-moves past 1.3900
GBP/USD seesaws around 1.3920-15 amid the initial Asian session on Wednesday. In doing so, the cable takes rounds to 50.0% Fibonacci retracement (Fibo.) of June–July downturn while keeping the previous day’s rebound from the resistance-turned-support line from June 01.
GBP/USD advances above 1.39, neutral outlook [Video]
GBPUSD is heading up again after the pullback off the 1.4000 restrictive level and the 40-day simple moving average (SMA) last week. The RSI indicator is mirroring the latest upside correction in the price, while the MACD is also reflecting some improvement in buying interest, advancing above its trigger line and trying to surpass the zero level.
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