GBP/USD Price Analysis: At ‘make or break’ to near 1.3000
The cable is testing the yearly lows at 1.3000. For further movement in the asset, the momentum oscillator RSI (14) is advocating bears. The 200-EMA has acted as a major barricade for the pair. The GBP/USD pair has remained in a bearish trajectory after printing March highs to near 1.3300. The asset has witnessed a sheer fall and is auctioning near the yearly lows at around 1.3000. The asset is at a make-or-break level, however, odds are favoring a break going forward.
On a four-hour scale, the cable is testing the previous major bottom printed on March 14 at 1.3000. It is worth noting that the asset has sensed a textbook kind of resistance from the 200-period Exponential Moving Average (EMA), which is currently placed at 1.3190. The asset is trading below 20-period EMA to near 1.3050, which adds to the downside filters.