Pound Sterling Price News and Forecast: GBP/USD sellers attack 1.38 inside short-term rising channel

FXStreet Team FXStreet

Sterling extends losses following US inflation data, $1.3800 eyed

Since February, GBP/USD echoed an indecisive environment south of $1.4377: April high 2018. This follows December’s (2020) trendline resistance breach, taken from the high $2.1161, which could serve as support if retested.

July is currently down 0.1 percent.

GBP/USD Price Analysis: Sellers attack 1.3800 inside short-term rising channel

GBP/USD remains offered around 1.3800, down 0.07% intraday, amid Wednesday’s Asian session. In doing so, the cable pair drops for the third consecutive day inside an eight-day-old rising channel bullish formation.

It should, however, be noted that the quote’s sustained trading below the 1.3920-25 hurdle, comprising 200-EMA and the upper line of the stated channel, joins bearish MACD signals to keep sellers hopeful.

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