- 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 ( ) 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 ( ) 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 :- https://www.fxstreet.com/news/gbp-usd-pr...