The Pound Sterling modestly gains versus the Greenback on Wednesday, amid thin liquidity conditions, due to US traders being in observance of Juneteenth.
GBP/USD tests key-support trendline turned resistance at around 1.2730. Technical outlook shows momentum favoring buyers, but unable to sustain gains above 1.2800. Key resistance at 1.2739 and 1.2800, with support levels at 1.2700, 1.2643, and 1.2617. Therefore, with US markets being closed, the GBP/USD could remain subdued, and trade at 1.2729 at the time of writing. GBP/USD Price Analysis: Technical outlook After hitting a three-month high at 1.
2739, the current week’s high, followed by 1.2800. Once cleared, the next stop would be the monthly high of 1.2860. Conversely, if GBP/USD stumbles past 1.2700, that will expose the confluence of technical indicators, like the May 3 high turned support and the 50-day moving average at 1.2643/39, ahead of the 50-DMA at 1.2617. Further losses lie once cleared, like the 1.2600 figure and the 200-DMA at 1.2550. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.
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