GBP/USD Price Analysis: Prints three-day winning streak to attack 1.3100
- GBP/USD seesaws in a choppy range between 1.3091 and 1.3107.
- Overbought RSI, bearish MACD favor the sellers, a sustained trading past-10-day EMA lures the buyers.
- Bulls will have multiple upside barriers beyond 1.3100.
GBP/USD picks up the bids near 1.3100, up 0.10% on a day, during the early Monday’s trading. The Cable stays beyond 10-day EMA for the third day in a row while also flashing three-day winning streak by the press time.
Even so, RSI and MACD are both against the further run-up, which in turn pushes sellers to look for any downside past-1.3055, comprising 10-day EMA, for entries.
While 1.3000 and the monthly low around 1.2980 can offer an additional filter to the south, an ascending trend line from June 30, at 1.2885 now, becomes the key support to watch.
On the upside, 1.3140 and the monthly top around 1.3185 can offer nearby resistance to the pair ahead of the March month’s peak surrounding 1.3200.
GBP/USD daily chart
Trend: Pullback expected
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.
