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GBP holding to latest gains against USD - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that GBP/USD has been hovering slightly above the 1.6100 level on Tuesday.

Key quotes

"Price stands close to a daily descendant trend line coming from July high of 1.7190 today converging with Monday high in the 1.6145 price zone."

"The lack of directional strength has left 4 hours indicators flat albeit in positive territory, while 20 SMA presents a mild bullish tone below current price, offering dynamic intraday support at 1.6075."

"Neutral to bullish, the upside is favored on a break above mentioned 1.6145 towards the 1.6200 price zone, whilst below 1.6070, the pair’s bearish run may extend down to 1.6030 price zone."

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