GBP/USD faces fragile barricades below 1.1400 on bleak BOE outlook, risk-on still solid
The GBP/USD pair has sensed a minor selling pressure while attempting to hit the immediate hurdle of 1.1400 in the Tokyo session. Investors are continued with their longs in risk-perceived currencies. The 10-year US Treasury yields have recovered the decline and have scaled above 3.75%. While, the S&P500 is not ready to surrender gains and is sustaining at elevated levels.
Ichimoku cloud analysis: GBP/USD, AUD/USD, USD/CAD
GBP/USD is rising inside the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.1375 and then resume moving upwards to reach 1.1895. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border.
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