GBP/USD recovery movement stalls, returns to support

FXstreet.com (New York) – The GBP/USD technical pair found itself paring losses, only to falter again at the 1.5545 region during US trading Tuesday.

A failure to edge higher past this level culminated in the reopening of losses, which now places the pair at 1.5527 in these moments, down -0.30% off its opening. Briefing the technicals, the GBP/USD remains fortified by supports at 1.5527, ahead of 1.5499.

GBP/USD strategic bias

According to Axel Rudolph, an analyst at Commerzbank, “The GBP/USD has come close to but did not quite reach the uptrend channel resistance line, 200-week moving average and the June peak at …read more