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Pound Sterling Price News and Forecast: GBP/USD edges higher following a two-day uptrend to weekly top

June 23, 2021 by admin 0 Comments

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GBP/USD Price Analysis: Clings to 100-DMA ahead of UK/US PMIs

GBP/USD sellers attack intraday low near 1.3940, keeping choppy moves inside a 10-pips trading range, amid the Asian session on Wednesday. In doing so, the quote seesaws around 100-day SMA after rising for the last two consecutive days.

GBP/USD analysis: Remains below 1.4000

In the aftermath of the US Federal Reserve caused drop, the GBP/USD began a recovery, which appeared to have ended on Tuesday. Namely, the rate declined from a resistance zone just below the 1.3950 level, as soon as it was being approached from above by the 100-hour simple moving average.