FOREXCOM:GBPUSD   British Pound / U.S. Dollar
GBP/USD Price Analysis: Recaptures 1.3900 ahead of Bank of England.

  • GBP/USD is attempting a bounce above as the US dollar eases.
    The cable regains 21-SMA on 4H, with eyes on 1.3952 resistance.
    BOE likely to stand pat but could offer tapering hints.

GBP/USD technical outlook
Looking at the four-hour chart, GBP/USD is looking to reclaim ground above the 21-Simple Moving Average ( SMA ) at 1.3907, having bounced off the ascending 50-SMA support line at 1.3895 earlier on.

The next target for the bulls is seen at the falling trendline resistance at 1.3952. The Relative Strength Index ( RSI ) at 53.71 backs the latest move higher.
On the flip side, if the 50-DMA support cracks, then the price could drop towards the horizontal 200-SMA at 1.3838.
The next line of defense for the bulls is seen at $1.3900.

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