GBP/USD Hovers Above 1.4200
GBP/USD has
edged slightly lower on Wednesday but overall continues to trade within
its weekly range, unable to set short-term direction in the absence of
fundamental triggers.
GBP/USD has continued to retreat from
yesterday’s peak of 1.4195, but the downside has been contained by the
1.4190 level, confining the pair to rangebound trading. At time of
writing, the pair is trading at 1.4217, 0.39% below its opening price.
GBP/USD technical levels
In
terms of technical levels, immediate resistances could be found at
1.4370 (Apr 1 high), 1.4458 (Mar 30 high) and 1.4486 (100-day SMA). On
the flip side, supports are seen at 1.4195/92 (Apr 12 & 13 lows),
1.4105/00 (Apr 11 low/psychological level), 1.4040 (Apr 8 low) and
1.4004 (Apr 4 low).
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