GBP/USD Price Analysis: Recaptures 1.3900 ahead of Bank of England.
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.
Reference :- www.fxstreet.com/new...england-202108050734
- 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.
Reference :- www.fxstreet.com/new...england-202108050734