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Sunday, August 1, 2021

Cable bounces back after test of 1.3800

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The range for the week continues to hold

GBP/USD H1 16-07
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Sellers tried testing waters just below 1.3800 earlier, with the low touching 1.3793 for a brief moment before a turnaround now to a session high of 1.3850.

The bounce takes the pair back towards the 100-hour moving average (red line) @ 1.3849. Push above that and buyers will seize back near-term control.

That said, in the context of the week, the range between 1.3800 and 1.3900 holds.

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