- Lack of momentum between important levels.
- Lesser space on the downside than otherwise.
GBP/USD is taking the rounds near 1.2630 ahead of the London open on Thursday.
The pair bounced off from 1.2610 but failed to register much momentum, needless mention its failure to cross 50-bar simple moving average on 4-hour chart (4H-50MA) at 1.2680 and a four-week-old descending trend-line near 1.2750.
On the contrary, the quote also refrains from declining beneath 1.2610-1.2605 support-zone.
As a result, traders are likely witnessing indecision unless clearing the aforementioned levels.
Should the pair rises past-1.2750, 1.2830 and 1.2880 can entertain buyers whereas a downside break of 1.2600 round-figure will highlight 1.2480 and the year 2019 low near 1.2430.
GBP/USD 4-Hour chart
Trend: Sideways
Share
