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  • GBP/USD stays mildly positive, takes rounds to intraday top.
  • Rising wedge confirmation, bearish MACD favor sellers targeting 50-day SMA.
  • 10-day SMA, weekly resistance line add to the upside filters.

GBP/USD seesaws around 1.3650 during Thursday’s Asian session. In doing so, the cable remains near the intraday high of 1.3652 while printing 0.10% gains on a day, the first positive performance after last Thursday.

Although higher low formation and Tuesday’s Doji suggest an extension of a corrective pullback towards the 10-day SMA level of 1.3680, the support line of the one-month-old rising wedge, at 1.3700 now, will offer a tough nut to crack for GBP/USD buyers.

Also acting as the strong upside barrier is the trend line connecting highs marked during the last one week, around 1.3760, as well as the upper line of the stated wedge formation, near 1.3785.

On the flip side, the 1.3600 round-figure and 50-day SMA near 1.3540 seem to challenge short-term GBP/USD sellers.

However, a clear break below 1.3540 will not hesitate to refresh the yearly bottom surrounding 1.3450.

It’s worth mentioning that GBP/USD traders are waiting for the Bank of England’s (BOE) key announcements on “Super Thursday”.

Read: Bank of England Preview: Bailey set to abandon negative rates, injecting sterling with new energy

GBP/USD daily chart

Trend: Bearish