GBP/USD: Cable Bounce From Six-Week Lows Finds Resistance Sub-1.4000

– GBP/USD has rallied off of fresh six-week lows set just last Thursday, and is starting to find resistance at a familiar area around 1.3930.

– While the longer-term bullish trend that defined the pair’s price action in 2017 remains, near-term indications suggest a deeper bearish move may be in the cards before that bigger-picture trend may be ready for resumption.

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GBP/USD Pulls Back While Longer-Term Bullish Trend Remains

The British Pound continues to wrestle between longer-term themes of strength to go along with shorter-term indications of weakness. While GBP/USD spent much of February displaying messy price action, a bit of trend had developed as prices dipped to fresh six-week lows as we neared the end of the month. The support zone that we were following

Article source: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2018/03/07/gbpusd-bounce-from-six-week-lows-finds-resistance-sub-14000-srepstans.html?DFXfeeds=forex:technical:home:analysis:gbp-usd