Pound Sterling Price News and Forecast: March high of 1.3200 lures the bulls

GBP/USD prints fresh highs, bulls seeking a break towards 1.33 in near future

After piercing post-Brexit support at 1.20 to a low of 1.15, GBP/USD has re-entered the 1.20-1.33 trading range.

GBP/USD is currently trading at fresh highs in the 1.30’s as the market beats down the greenback a little more despite yesterday’s relief rally following the Federal Reserve announcements.

GBP/USD is testing the 1.3080s, higher by 0.65% on the session so far having rallied from a 1.2944 low. Broad USD weakness, weighed by concerns over fiscal commitment and monetary policy space in the US, has benefitted GBP for the 10th day straight.

GBP/USD Price Analysis: March high of 1.3200 lures the bulls

GBP/USD takes the bids near 1.3100 during the early Friday morning in Asia. The Cable crossed a downward sloping trend line from December 31, 2019, the previous day. The same gains support from bullish MACD to challenge the March month’s top.

Although 1.3200 is teasing the bulls, multiple upside barriers, comprising highs marked since 2019-end, could challenge the pair’s further upside below 1.3215.

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