GBP/USD Price Analysis

GBP/USD pokes intraday high of 1.3835, up 0.05% intraday during the subdued Asian session on Friday.

In doing so, the cable pair pares Thursdays losses following its bounce off a two-week-old horizontal support zone surrounding the 1.3800 threshold.

Even so, MACD conditions aren‘t favorable to the pair’s further upside, which in turn suggests fresh pullback from nearby resistances, namely 1.3875-80 and the 1.3900 round figure.

Should the quote fails to reverse from 1.3900, the upper line of an ascending trend channel from June 30 near 1.3920 and 200-SMA level close to 1.3955 become the key hurdles to watch.

Meanwhile, a downside break of the 1.3800 nearby support will direct GBP/USD sellers to attack the channels support close to 1.3780.

It‘s worth noting that the pair’s sustained break of 1.3780 will confirm the bearish trajectory towards the lows marked during March and April surrounding 1.3670. During the fall, the monthly bottom of 1.3731 may test the pair bears.

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