GBP/USD Price Analysis: Bulls and bears jostle around 1.3900 inside immediate triangle

GBP/USD bounces off intraday low to regains 1.3900 threshold during Tuesday’s Asian session. Although the cable’s repeated bounces off 200-HMA join upbeat RSI to back the buyers, a triangle formation established since last Thursday challenges the short-term moves.

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GBP/USD Forecast: Struggling to extend gains beyond 1.3900

The GBP/USD pair advanced on Monday to 1.3929, as risk appetite extended in the weekly opening. However, the pair retreated from the mentioned high as dismal EU and US data dented the market’s mood. The pair bottomed at 1.3865, bouncing modestly ahead of the close as US indexes moved off intraday lows. Major pairs moved on sentiment, with the greenback looking at equities for direction.

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