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

GBP/USD hangs around 1.3900 amid the initial Asian session trading on Tuesday. The cable dropped for the second consecutive day on Monday after reversing from a 12-day-long falling trend line during Friday. However, the downside faltered around mid-1.3800s before struggling for direction off-late. Considering the GBP/USD pair’s sustained weakness below the stated resistance line, at 1.4006 now, coupled with the downward sloping Momentum line, sellers are on their way to a 50-day SMA level of 1.3798. Though, any further weakness past-1.3798 will have to break an ascending support line from early November 2020, … (full story)

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