Pound holds to its latest gains against the greenback, trading a few pips above the 1.6100 level, yet confined to a limited range is a soporific market, particularly when it comes to European figures. Price stands close to a daily descendant trend line coming from July high of 1.7190 today converging with Monday high in the 1.6145 price zone.
The lack of directional strength has left 4 hours indicators flat albeit in positive territory, while 20 SMA presents a mild bullish tone below current price, offering dynamic intraday support at 1.6075. Neutral to bullish, the upside is favored on a break above mentioned 1.6145 towards the 1.6200 price zone, whilst below 1.6070, the pair’s bearish run may extend down to 1.6030 price zone.
View Live Chart for GBP/USD
The lack of directional strength has left 4 hours indicators flat albeit in positive territory, while 20 SMA presents a mild bullish tone below current price, offering dynamic intraday support at 1.6075. Neutral to bullish, the upside is favored on a break above mentioned 1.6145 towards the 1.6200 price zone, whilst below 1.6070, the pair’s bearish run may extend down to 1.6030 price zone.
View Live Chart for GBP/USD
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