GBP/USD Price Analysis: Monthly support line backs the bulls above 1.3300
GBP/USD prints mild gains while rising to 1.3330, an intraday high of 1.3338, during early Tuesday. The Cable surged to the fresh high since early September the previous day before stepping back from 1.3397.
However, the following U-turn from a horizontal line connecting highs marked since November 11 joins bullish MACD to favor the pair buyers. Also supporting the odds of GBP/USD upside is the successful trading past-50-bar SMA. As a result, the 1.3400 round-figure acts as an immediate upside hurdle for the GBP/USD buyers ahead of the yearly peak surrounding 1.3485.
GBP/USD stabilises above 1.3300 awaiting Brexit updates
GBP/USD continues to look perky compared to the majority of its USD major counterparts; the pair hit its highest levels since early September on Monday at close to 1.3400 and, although slipping back below 1.3300 amid a bout of broad USD strength midway through the US session, has recovered back above 1.3300 going into Tuesday’s Asia session.
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