GBPUSD is climbing above the Ichimoku cloud and the flat 20- and 40-period simple moving averages (SMAs), finding crucial support at the 200-period SMA in the 4-hour chart. The MACD oscillator is ticking lower in the positive region, while the MACD is strengthening its bullish move above its trigger and zero lines. However, the recent outlook in the short-term is neutral as the market fails to create a clear direction.
More advances could find resistance at the 1.4205 barrier, ahead of the more-than-three-year high of 1.4250. If the bulls drive the price higher, they could meet the 1.4345 level, registered in January 2018.
Otherwise, a dive below the Ichimoku cloud could take the price lower until the 200-period SMA, which stands near the 1.4070 support level. Underneath this obstacle, the door could open for a bearish structure towards 1.4007 and 1.3975.
Overall, GBPUSD is failing to boost the bullish move in the medium-term timeframe and only a jump above the more-than-three-year high of 1.4250 could endorse the upside tendency.
Origin: XM
