GBP/USD Price Analysis: Doji near 200-bar SMA raises doubts on further upside
GBP/USD pullback to 1.3045 during Friday’s Asian session. The quote surged to the highest since February the previous day but a bearish candlestick formation around the key SMA resistance seems to question further upside.
That said, sellers are again targeting 1.3000 marks whereas an upward sloping trend line from February 10, at 1.2965, could restrict the pair’s further downside.
GBP/USD: Approaches long target at 1.30815
The British Pound consolidated at 1.29520 resistance for two days before taking off, breaking through 1.3000 and 1.30415 during the overnight session. The pair trades at 1.30463 at the time of writing and could reach its third target at 1.30818 if it holds above 1.30415.
Resistance: 1.30815, 1.31265, and 1.31565
Support: 1.3000, 1.29520, and 1.29150
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