GBP/USD chart on Trading View used for analysis GBP/USD slips lower from fresh 2-week highs at 1.3085, trades 0.08% lower at 1.3027 at the time of writing. UK trade secretary Liam Fox, said that there are still a number …
GBP/USD slips lower from fresh 2-week highs at 1.3085, trades 0.08% lower at 1.3027 at the time of writing.
UK trade secretary Liam Fox, said that there are still a number of Brexit issues that need to be dealt with and it is impossible to say if Brexit deal can be reached this month or next.
Focus now on May's meeting with Cabinet ministers, headlines coming out will influence the GBP price action.
Technical studies are neutral to slightly bullish. Stochs and RSI support upside. We also see a bullish MACD line crossover on signal line.
The major finds stiff resistance at daily cloud and 110-EMA. Break above could see further upside.
On the flipside, retrace below daily cloud will see weakness. Drag till lower Bollinger Band at 1.2691 likely.
Support levels - 1.2960 (nearly converged 5-DMA and 21-EMA), 1.2695 (Oct 30 low)
