GBP/USD Price Analysis: Teases bearish cross below 1.3800
GBP/USD keeps the week-start inactivity around the mid 1.3700s during Tuesday’s Asian session. Even so, bears remain hopeful as the Daily Moving Averages (DMAs) hint at a bearish cross as the prices remain below an important resistance line stretched from June 01.
GBP/USD outlook: Bulls lose traction on approach to the base of thick daily cloud
Bulls started to lose steam on Monday after last week’s nearly 1% advance, facing strong headwinds from the base of thick daily cloud (1.3760). Although the price action is holding near the top of multi-day congestion, cable is lacking strength for eventual break higher.