GBP/USD Price Analysis

GBP/USD eases from intraday high of 1.3740 to 1.3730 during Mondays Asian session. In doing so, the cable keeps its run-up beyond 200-HMA and an upward sloping trend line from Thursday amid bullish MACD.

As a result, the bulls are all trying to re-attack the horizontal hurdle around 1.3757-58, a break of which will eye for the March 2018 peak surrounding 1.3775 and the 1.3800 threshold.

The GBP/USD pair kept recovering on Friday, ending the week with modest gains in the 1.3730 price zone, near the almost two-year high set in January at 1.3758. Two main factors provided support to the pound these days. The Bank of England has cooled down expectations for negative rates in its Thursdays announcement, while the country keeps ramping up its coronavirus immunization campaign. The country expects to give at least the first shot to the entire population by the end of June, while the country plans to have all the vulnerable groups vaccinated this month.