GBP/USD, Technical Analysis

GBP/USD is Trading Positive as GBP Bulls Ride the Momentum

GBP/USD Hourly (H1) Chart — GBPUSD Hourly (H1) Chart

GBP/USD: The pair is trading positive as GBP bulls ride the momentum of USD’s easing strength. While the broad-based return of risk appetite can be said as one reason for USD’s easing, the Fed’s support measures to underpin liquidity also act as a factor in today’s decline surrounding US Greenback. For now, the pair is trading above 1.18 handle and is likely to continue moving rangebound around the 1.1800 handle but remain trapped below mid-1.18 level as the trading session comes to close for the week.

TAGS: FEDGBP/USD Technical analysis

Karthik Subramanian
March 21, 2020

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