Technical analytics

GBP/USD

GBPUSD

The pound was under pressure Tuesday afternoon, however, the major reversed the majority of its losses during the evening and night trades. The EMA50 and EMA100 still block buyers’ further advance. However, it is not for long according to the technical readings. The buying pressure is growing today and the sterling may break through the level any moment now. The resistance lies at 1.3400, the support comes in at 1.3300.

Sustained break above the 1.3400 region is seen as minimum requirement needed to confirm bullish resumption. In this potential scenario buyers could drag the pound to 1.3460 - 1.3450.