GBPUSD : Settles in a range
GBP/USD continues to be weighed by important immediate resistance at the August 10 high of 1.2820, slightly below another barrier at the xx high of xxx, reinforcing the bigger-picture consolidation.
So far, the pair is holding above quite strong converged support at the end-June low of 1.2600, a shade above the 200-day moving average. Only a break below the May low of 1.2300 would disrupt the higher-low-higher-high sequence since late 2022. Until then, the trend could be sideways at best.
So far, the pair is holding above quite strong converged support at the end-June low of 1.2600, a shade above the 200-day moving average. Only a break below the May low of 1.2300 would disrupt the higher-low-higher-high sequence since late 2022. Until then, the trend could be sideways at best.
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