GBP/USD Price Analysis: On the way to 1.3970-80 key hurdle
GBP/USD picks up bids to 1.3955, intraday high of 1.3958, while flashing 0.10% daily gains during early Friday. In doing so, the cable remains inside a one-week-old ascending trend channel while keeping the bounce off 200-SMA portrayed on April 22 amid upbeat RSI conditions.
GBP/USD Forecast: Bulls are not ready to challenge 1.4000
The GBP/USD pair peaked at 1.3976, its highest for the week, but trimmed intraday gains and finished the day unchanged around 1.3940, as the dollar recovered ground during US trading hours. The pound benefited from Asian and European equities’ advances backing demand for high-yielding assets.