GBP/USD Struggles to Return Above 20-Day EMA
The British Pound edged marginally higher near 1.3387 against the US Dollar on Thursday, as the greenback weakened despite rising oil prices amid escalating Middle East tensions.
GBPUSD
The GBP/USD pair is attempting to recover but continues to face resistance around the 20-day exponential moving average (EMA). During European trading on Thursday, the pair inched up to approximately 1.3387, supported by a softer US Dollar.
The USD declined even as crude oil prices surged on renewed geopolitical risks in the Middle East, which typically boost the dollar. The inability to reclaim the 20-day EMA suggests persistent bearish pressure, with traders watching for a decisive breakout.
Source: FXStreet Forex News