GBPUSD’s rally post-US inflation data enabled it to poke the 100-DMA for the first time since late February. The pair’s further upside, however, appears limited as bulls brace for the UK’s Q3 GDP amid fears of witnessing a clear sign of recession. That said, the 100-DMA hurdle of 1.1665 and the upper line of a five-week-old bullish channel’s resistance line, near...
GBPUSD refreshed a three-week high on Tuesday while extending the breakout of 100-SMA. However, a convergence of the 200-SMA and a downward sloping trend line from June 16, around 1.2110 appears a tough nut to crack for the Cable pair buyers. Given the RSI’s nearness to the overbought territory, the upside momentum is less likely to overcome the key hurdle....
