GBP/USD technical analysis: Lingers around 1.41 as positive forces dry up
GBPUSD is tiptoeing across the 1.4095 level, which happens to be the 150.0% Fibonacci extension of the down leg from 1.3200 until 1.1410, after multiple attempts in the pair failed to defeat the 1.4236 peak from February 24. Nonetheless, the bullish simple moving averages (SMAs) are safeguarding the uptrend.
The currently idle Ichimoku lines are demonstrating a loss of positive impetus; however, they are retaining a slight tilt to the upside. Additionally, the short-term oscillators are mirroring the minor dwindling in the pair around the red Tenkan-sen line but are also suggesting upside powers have yet to fully subside. Read more...
GBP/USD analysis: Tests resistance at 1.4189
On Monday, the GBP/USD exchange rate surged by 73 pips or 0.52%. The currency pair tested the upper line of an ascending channel pattern during yesterday's trading session. The British Pound is likely to continue to climb against the US Dollar during the following trading session. The possible target for bullish traders will be near the 1.4220 level.
However, the resistance level at 1.4189 could still provide resistance for the currency exchange rate within this session. Read more...
GBP/USD Forecast: Three reasons to expect sterling to stumble
Cable is at the crossroads – where will it go from here? After several sluggish sessions of range trading, there are three reasons to expect a slide in GBP/USD.
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