GBP/USD slides toward trendline support below 1.3600
GBP/USD is losing ground below the 1.3600 handle, eyeing support at the medium‑term ascending trendline.The pound is under pressure against the dollar amid domestic political uncertainty, lingering Middle East tensions, and ahead of key US CPI data.
Momentum indicators are easing within positive territory, with the MACD muted near its signal line and the RSI drifting toward neutral. This suggests consolidation within the 1.3525-1.3625 range may persist, with downside risks increasing if price breaks below the uptrend line and the 20‑day simple moving average (SMA) at the lower bound of the range. Read more…
GBP/USD Price Forecast: 61.8% Fibo retracement near 1.3600 remains key barrier
The GBP/USD pair is down 0.3% to near 1.3570 during the European trading session on Tuesday. The Cable faces selling pressure as the US Dollar (USD) outperforms its peers due to a risk-off market mood.
Market impulse turns risk-averse amid renewed tensions between the United States (US) and Iran. As of writing, S&P 500 futures trade 0.2% lower around 7,395. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is 0.25% higher to near 98.15. Read more…
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