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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