GBP/USD Price Depressed inside 50-pips trading range above 1.3800

GBP/USD drops back towards 1.3800, down 0.08% intraday around 1.3816 by the press time of Monday’s Asian session. Even so, the cable struggles for a clear direction inside a trading range of nearly 50-pips comprising the key horizontal support and a short-term resistance line, previous support. The quote’s latest weakness below 200-SMA and downbeat Momentum indicator suggests another attempt to break below the mid-April tops surrounding 1.3810. However, sellers may wait for a fresh low beneath the latest 1.3802, as well as a clear break below the 1.3800 threshold, for confirmation. Following that multiple … (full story)

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