GBP/USD holds onto the recovery moves inside a bullish chart pattern


GBP/USD Price Analysis: Rebound from 1.3800 prints bullish flag

GBP/USD bulls take a breather around 1.3870-65, after snapping a three-day uptrend, amid Thursday’s Asian session. The cable pair dropped to the lowest in 12 days before bouncing off 1.3802 the previous day. In doing so, the quote portrays a bullish flag formation on the four-hour (4H) play.

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GBP/USD Forecast: Pressured ahead of US CPI

The GBP/USD pair nears the 1.3800 level, as the greenback retains its strength. The American currency keeps advancing on the heels of Tuesday’s news, as the US Senate passed the infrastructure bill, now in the House. Fresh financial support hints at steeper growth in the country. Hence, the dollar strengthens alongside Wall Street, with major indexes flirting with record highs.

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