GBP/USD Price Analysis: Keeps break of 200-day EMA above 1.2600
GBP/USD remains on the front foot around 1.2613 during the early Asian session on Thursday. In doing so, the Cable keeps the previous day’s break above 200-day EMA. As a result, the bulls are targeting a horizontal area comprising multiple highs marked since April 14.
Other than the 1.2645/55 immediate resistance region, the early-June top of 1.2730 and 1.2800 round-figure may act as buffers ahead of the June 10 peak of 1.2813.
It’s worth mentioning that the pair’s rise past-1.2813 could aim for 1.3000 psychological magnet before refreshing the yearly top beyond 1.3200. Meanwhile, a daily close below 200-day EMA level of 1.2590 could drag the quote to 61.8% of Fibonacci retracement of March month’s fall near 1.2515.
GBP/USD Forecast: Extends gains above 1.2600, ignoring Brexit talks
The GBP/USD pair surged to 1.2591 its highest in four weeks, finishing the US session in the 1.2550 area. The pound surged on the dollar’s broad weakness and despite the lack of progress in Brexit talks. The American dollar, on the other hand, remained on the back foot against most of its major rivals. The UK published Halifax House Prices, which printed at -0.1% in June, better than anticipated. In the Brexit front, UK’s David Frost and EU’s Barnier have resumed trade talks in London. News on that front could be out during the first hours of Asian trading. This Wednesday, the UK will publish the RICS Housing Price Balance for June.
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