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GBP / USD is holding above the 1.39 level

The GBP / USD pair is holding in the green trading zone on Thursday due to the weakening of the dollar. The American currency is declining across the entire spectrum of the market amid falling yields of American Treasuries and the growing interest of investors in more risky assets.

 

There is no important news in the economic calendar of Great Britain today, therefore further trading in the GBP / USD pair will depend mainly on the dollar fluctuations and the dynamics of the EUR / GBP pair movement. Today the ECB meeting will take place, which can provoke a significant increase in volatility for all currency pairs with the participation of the European currency.

 

On the chart, buyers kept the price above 1.3905 yesterday. This is a good application for the continuation of the upward movement. Today we are waiting for the retest of the resistance area formed between the levels 1.3980-1.4000.

 

  • Resistance levels: 1.3980, 1.4000, 1.4050;

 

  • Support levels: 1.3905, 1.3830, 1.3757.

 

The main scenario is growth to 1.4000.

 

An alternative scenario is a breakdown of the support at 1.3905 and a decline to 1.3830.

 

The current fundamental background is neutral. We are considering longs from the level of 1.3893.

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