GBP/USD sellers could take action if 1.2000 fails – Crypto News – Crypto News
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GBP/USD sellers could take action if 1.2000 fails – Crypto News

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GBP/USD battles with 200-day SMA as pullback extends

GBPUSD has been edging higher after finding its feet at the all-time low of 1.0324 in late September. Even though the pair has staged a strong rebound, it is currently experiencing a downside correction, with the 200-day simple moving average (SMA) acting as a strong floor.

The short-term oscillators currently suggest that bearish forces are in control. Specifically, the RSI slid below its 50-neutral mark, while the MACD histogram is declining below its red signal line in the positive territory. Read more…

GBP/USD Forecast: Sellers could take action if 1.2000 fails

GBP/USD has managed to erase a small portion of its daily losses after having tested 1.2000 earlier in the day on Wednesday. The pair’s near-term technical Outlook shows that the bearish bias stays intact and additional losses could be witnessed in case 1.2000 turns into resistance.

On Tuesday, the sharp increase witnessed in the US Treasury bond yields helped the US Dollar hold its ground against its major rivals in the second half of the day and forced GBP/USD to edge lower. Early Wednesday, US stock index futures trade modestly higher on the day. If Wall Street’s main indexes gain traction after the opening bell, the US Dollar could lose interest and help GBP/USD stage a rebound and vice versa. Read more…

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GBP/USD, steady above 1.2020, approaches session highs at 1.2055

Sterling’s reversal from the intra-day high of 1.2055 seen on the early European session opening has been supported near 1.2020, and the pair picked up again to reach the 1.2040 area so far.

On a wider perspective, the GBP/USD remains practically unchanged on the daily charts, hovering within the lower range of the 1.20s after the reversal from six-month highs at 1.2450 seen last week. Read more…

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