GBP/USD has been uncertain since February, trading south of $1.4377, the April high of 2018. This comes after the breach of the trendline resistance in December (2020), which was taken from the high of $2.1161, and might function as support if retested.
Currently, the month of July is down 0.1 percent.
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During Wednesday’s Asian session, the GBP/USD exchange rate is hovering at 1.3800, down 0.07 percent intraday. The cable pair has now fallen for the third day in a row inside an eight-day-old rising channel bullish shape.
However, the quote’s continuous trading below the 1.3920-25 obstacle, which includes the 200-EMA and the upper line of the indicated channel, together with bearish MACD signals, keeps sellers hopeful.
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