GBP/USD Price Analysis: Stays directed to 1.3830 resistance confluence
GBP/USD holds onto 200-DMA breakout around 1.3765 amid a quiet start to Friday’s Asian session. The cable pair’s recovery moves from 61.8% Fibonacci retracement (Fibo.) of December 2020 to June 2021 upside manages to cross the key SMA and 50% Fibo. hurdle, keeping the buyers hopeful. Also favoring the bulls is the MACD line that teases a bullish breakout over the signal line.
GBP/USD drops below 1.3760 as the US dollar gains momentum
The GBP/USD pulled back almost 50 pips from the daily highs as the US dollar recovered ground across the board. Cable dropped back under 1.3750; earlier on Thursday, it peaked at 1.3787, the highest since Monday. US dollar turns positive against most of its rivals during the American session. GBP/USD trims gains, still heads for second gain in a row.
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