Pound Sterling Price News and Forecast: GBP/USD has been creeping steadily higher

GBP/USD bulls moved in on the 1.3730s but has stalled

At 1.3729, GBP/USD is higher on the day so far, trading up 0.16% after climbing from a low of 1.3705. The price is stalling here but the US dollar has been on the backfoot and the pound is lapping it up. The Bank of England has been one of the more hawkish of the central banks.

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GBP/USD: A handful of pips ahead

A handful of pips ahead of supply from $1.3782-1.3758 and a deep 88.6% Fibonacci retracement at $1.3758, GBP/USD rotated lower at the tail end of Thursday’s session. This highlights steep trendline support, drawn from the low $1.3173, Quasimodo resistance-turned support at $1.3668 and a decision point at $1.3622-1.3646.

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