Forex: The GBP/USD falls to break the 1.3800

By @ibtimes on

FXstreet.com (Barcelona) - The Pound short rally ahead the US opening bell from the 1.3850 to the 1.3907 was rejected strongly by the 1.3900 resistance and the GBP/USD has been launched 100 pips below the 1.3800 support along of the American session.

The GBP/USD has fallen 100 pips from the 1.3907, intra-day high, to the 1.3795 after be rejected by the 1.3900 uptrend line and breaks the 1.3850 support level in the early American session. Currently, the pair is trading around the 1.3790/1.3810, trying to break the support line of 1.3805

Valeria Bednarik, FXstreet.com Collaborator, says us that the cable is inside a small ascendant channel: The pair is lightly bullish moving inside a small ascendant channel. Indicators are flat at the moment, with the 20 SMA turning to the upside. Low volume in the pair at the time, break of the channel could give some momentum either side.

Bednarik observes as important numbers: Support levels: 1.3820 1.3770 1.3741 and Resistance levels: 1.3900 1.3954 1.4023

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