GBP/USD Price Analysis: Cable bears remain hopeful below 1.2440-45 resistance confluence GBPUSD Technical Analysis ChartPatterns SwingTrading SupportResistance
It’s worth noting that the latest initial agreement on the US debt ceiling extension may allow theto pare some of its latest gains should the policymakers assent to the deal in the Congress voting. However, the holidays in the US and the UK on Monday and recent dissatisfaction among the Democrats and, as well as among the Republicans, from the deal may prod the Cable pair buyers.That said, the near 50.
Following that, the aforementioned channel’s top line, around the 1.2400 round figure, will be in the spotlight as a break of which will defy the bearishHowever, a convergence of the 200-bar Exponential Moving Average and the 100-EMA, around 1.2440-45, appears a tough nut to crack for the GBP/USD buyers, a break of which will allow the bulls to retake control.retracement level of near 1.2295 can restrict the immediate downside of the Cable pair.
Overall, GBP/USD may witness a corrective bounce but the trend remains bearish until the quote surpasses the 1.2440-45 hurdle.
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