GBP/USD Price Analysis: Buyers stay hopeful above 1.3195 support confluence
- GBP/USD prints four-day winning streak, recently picking up bids from 1.3144.
- 10-day SMA, two-week-old rising trend line offer near-term strong support.
- Monthly top, September high stay on the bulls’ radars.
GBP/USD ticks up to 1.3260, gaining 0.06% intraday, during the pre-Tokyo open trading on Wednesday. In doing so, the Cable keeps Friday’s recovery moves from 10-day SMA and an ascending trend line from November 02 amid bullish MACD signals.
GBP/USD buyers currently eye the 1.3300 round-figure ahead of targeting the monthly peak surrounding 1.3315.
During the quote’s sustained rise past-1.3315, the 1.3400 threshold can offer an intermediate halt before propelling the bulls toward September’s high near 1.3485.
Alternatively, a daily closing below 1.3195 support joint can quickly challenge the previous week’s low near 1.3105.
Though, the 1.3100 mark may stop the GBP/USD bears from attacking the monthly low of 1.2854.
GBP/USD daily chart
Trend: Bullish
Author
Anil Panchal
FXStreet
Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.
