GBP/USD Price Analysis: Bears giving way to the bulls again
The bears could be throwing in the towel here in Tokyo as the US dollar starts to fall away. However, it is early days in the equities session in Asia still and it is yet to be seen if a high is being cut out currently or if a low is in place. Nevertheless, the following illustrates a bullish bias in the case of a break of resistance and a move in towards the price imbalances that have a confluence of the 38.2% and 50% ratio retracements of the bear's tracks from overnight.
GBP/USD keeps bounce off two-year low near 1.1950 despite political drama at Downing Street
GBP/USD surprises traders by paying little heed to the severe political plays at Downing Street after refreshing the two-year low on recession woes during Wednesday’s initial Asian session. That said, the Cable pair seesaws around 1.1960 by keeping the latest rebound from the 28-month low of 1.1898.
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