GBP/USD Price Analysis: Bulls running into a wall of resistance
Bulls take hold of the open while the week's outlook spells a bearish divergence. Bears to take the baton in sessions to come. GBP/USD is opening the week at a critical juncture. The monthly chart displays a positively bearish outlook while the 4-hour still has room to move higher to meet key resistance.
GBP/USD Forecast: Pressure mounts ahead of BOE’s Bailey speech
The GBP/USD pair fell on Friday to close a second consecutive week with losses in the 1.3820 price zone. The pound fell throughout the first half of the day amid persistent dollar’s demand but held ground despite better than anticipated US employment figures. The rally in Wall Street and soaring oil prices provided support to the sterling. Another positive factor for the UK currency is that reopening will start this Monday, according to the plan outlined by Prime Minister Boris Johnson.
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