Pound Sterling Price News and Forecast: GBP/USD maintains its positive bias
GBP/USD Price Analysis: Retreats towards 1.1450 inside weekly bearish channel
GBP/USD fades the month-start optimism as it slides to 1.1480 during Wednesday’s Asian session while staying inside a one-week-long descending trend channel. That said, the Cable pair’s latest losses also take clues from the bearish MACD signals and keep the sellers hopeful.
GBP/USD supported above 1.1450 after rejection at 1.1565
Sterling’s reversal from session highs at 1.1565 witnessed on Tuesday’s morning US session has found buyers at 1.1450, allowing the pair to return to levels near 1.1500. On the daily chart, the cable remains moderately bid, picking up after a 0.9% reversal on Monday.