GBP/USD retreats towards 1.3400 on USD rebound, US/UK PMIs, Ukraine in focus
GBP/USD remains depressed around the intraday low of 1.34005 during Tuesday’s Asian session. The cable pair consolidated the monthly losses in the last two days before the latest retreat. The US dollar pullback and increasing odds of the Bank of England’s (BOE) hawkish moves in the upcoming meetings favored the cable buyers of late.
GBP/USD Price Analysis: Grinds higher past 1.3400 but bulls remain unconvinced
GBP/USD seesaws around 1.3415-20 during the initial Asian session on Tuesday, after a brief decline below crucial support the previous day. In addition to the cable pair’s latest struggle in keeping the rebound, bearish MACD signals the clear break of the previously important support lines and moving averages also favor sellers.
