Pound Sterling Price News and Forecast: GBP/USD bulls are correcting the bearish hourly drop

FXStreet Team FXStreet

GBP/USD Price Analysis: Bulls and bears will battle this out near the 61.8% golden ratio

The GBP/USD price has corrected 50% of the hourly bearish impulse. The bulls have been chipping away as profits are taken with bears moving aside one by one. This has resulted in a slow decelerating correction from which could attract sellers again.

Technical analysis: Will the GBP/USD price continue rebounding?

The technical analysis of the GBPUSD price chart in daily timeframe shows GBPUSD,D1 is testing the 200-period moving average MA(200) after breaching above the resistance line. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.3912.

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