During the last week GBP/USD performed tentatively and
showed lack of strength.
The pair attempted to rise higher, slipping above the key resistance at 1.4700, but failed to make a clear break upside and closed lower at 1.4604.
The pair attempted to rise higher, slipping above the key resistance at 1.4700, but failed to make a clear break upside and closed lower at 1.4604.
Currently the descending momentum prevails and bears are likely to test 1.4500. Immediate
resistance is seen at 1.4650, followed by 1.4740, which is the 200-day moving
average.
Looking at the upside, any indicative break above and eventual daily
close above 1.47 would awake the bulls and the pair might push towards 1.5000
level.
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