GBP/USD Price Analysis: Hovers around 10-week high on the way to 1.3700
GBP/USD seesaws near November highs after crossing the key resistance line to refresh multi-day peak the previous day. That said, the cable pair makes rounds to 1.3630-35 during the initial Asian session on Wednesday. Although nearly overbought RSI challenges the pair buyers, a clear upside break of the seven-month-old resistance line, now support around 1.3595, hints at the pair’s further advances.
GBP/USD hopes for bullish development above channel [Video]
GBPUSD is currently positioned at a crucial make-or-break point, testing the top line of the seven-month-old bearish channel slightly below the 1.3600 psychological level. A decisive close above that threshold could bring new buyers into the market, with the price likely heading straight up to the 200-day simple moving average (SMA) at 1.3740 in the aftermath.
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