GBP/USD clings to daily gains above 1.3600
GBP/USD preserves its bullish momentum and continues to trade in the positive territory above 1.3600 in the second half of the day on Thursday. Mixed macroeconomic data releases from the US failed to trigger a
The pair continues to trade above the 200-period SMA on the four-hour chart and the Relative Strength Index (RSI) indicator is moving sideways near 60, suggesting that the near-term bullish bias stays intact.
If GBP/USD manages to climb above 1.3600 (psychological level, static level) and starts using that level as support, 1.3620 (static level) and 1.3645 (February 10 high) could be targeted.
On the downside, key support seems to have formed at 1.3560 (200-period SMA, Fibonacci 23.6% retracement of the latest uptrend). In case a four-hour candle closes below that level, an extended decline toward 1.3520 (Fibonacci 38.2% retracement, 100-period SMA) and 1.3500 (psychological level) could be witnessed.
market reaction and the US Dollar Index stays flat below 96.00.
GBP/USD preserves its bullish momentum and continues to trade in the positive territory above 1.3600 in the second half of the day on Thursday. Mixed macroeconomic data releases from the US failed to trigger a
The pair continues to trade above the 200-period SMA on the four-hour chart and the Relative Strength Index (RSI) indicator is moving sideways near 60, suggesting that the near-term bullish bias stays intact.
If GBP/USD manages to climb above 1.3600 (psychological level, static level) and starts using that level as support, 1.3620 (static level) and 1.3645 (February 10 high) could be targeted.
On the downside, key support seems to have formed at 1.3560 (200-period SMA, Fibonacci 23.6% retracement of the latest uptrend). In case a four-hour candle closes below that level, an extended decline toward 1.3520 (Fibonacci 38.2% retracement, 100-period SMA) and 1.3500 (psychological level) could be witnessed.
market reaction and the US Dollar Index stays flat below 96.00.