Pound Sterling Price News and Forecast: GBP/USD maintains its positive bias

FXStreet Team FXStreet

GBP/USD Price Analysis: Retreats towards 1.1450 inside weekly bearish channel

GBP/USD fades the month-start optimism as it slides to 1.1480 during Wednesday’s Asian session while staying inside a one-week-long descending trend channel. That said, the Cable pair’s latest losses also take clues from the bearish MACD signals and keep the sellers hopeful.

GBP/USD supported above 1.1450 after rejection at 1.1565

Sterling’s reversal from session highs at 1.1565 witnessed on Tuesday’s morning US session has found buyers at 1.1450, allowing the pair to return to levels near 1.1500. On the daily chart, the cable remains moderately bid, picking up after a 0.9% reversal on Monday.

GBP/USD

Overview
Today last price	1.1506
Today Daily Change	0.0022
Today Daily Change %	0.19
Today daily open	1.1484

Trends
Daily SMA20	1.1306
Daily SMA50	1.1368
Daily SMA100	1.1723
Daily SMA200	1.2346

Levels
Previous Daily High	1.1566
Previous Daily Low	1.1437
Previous Weekly High	1.1646
Previous Weekly Low	1.1258
Previous Monthly High	1.1646
Previous Monthly Low	1.0924
Daily Fibonacci 38.2%	1.1517
Daily Fibonacci 61.8%	1.1487
Daily Pivot Point S1	1.1425
Daily Pivot Point S2	1.1367
Daily Pivot Point S3	1.1296
Daily Pivot Point R1	1.1554
Daily Pivot Point R2	1.1625
Daily Pivot Point R3	1.1683

Author

FXStreet Team

FXStreet

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