GBP/USD Price Analysis: Struggles around 1.3900 despite triangle breakout

GBP/USD stalls the bounce because the US dollar resumes the upside.
The symmetrical triangle breakout on the 4H chart still keeps buyers hopeful.
RSI has turned south but holds above the midline.
GBP/USD is battling 1.3900 in early European dealing, because the US dollar picks up bids and resumes Tuesday’s uptrend.

Ongoing Brexit concerns over the Northern Ireland border issues and powerful US economic data also weigh down the cable.

The focus shifts towards the united kingdom Final Services PMI and NFP hints, within the sort of the US ADP jobs and ISM Services PMI for near-term trading opportunities.

From a near term technical perspective, the cable is struggling to carry at higher levels despite a symmetrical triangle bullish breakout confirmed on the four-hour chart earlier today,

The bulls got to remove the daily highs at 1.3915 on a sustained basis, so as the 1.3950 level in their stride.

The Relative Strength Index (RSI) has turned south but remains well above the midline, backing the recent pause within the bounce.

GBP/USD four-hourly chart

A four-hourly closing below the 50-simple moving average (SMA) at 1.3893 could revive the selling momentum.

The downside might be then exposed towards 1.3874, the intersection of the 21 and 100-SMAs.

Further south, Tuesday’s low of 1.3839 might be put to check .

GBP/USD additional levels to observe
GBP/USD
OVERVIEW
Today last price 1.3900
Today Daily Change 0.0019
Today Daily Change % 0.14
Today daily open 1.3889

TRENDS
Daily SMA20 1.3847
Daily SMA50 1.3864
Daily SMA100 1.3772
Daily SMA200 1.3437

LEVELS
Previous Daily High 1.3915
Previous Daily Low 1.3838
Previous Weekly High 1.3976
Previous Weekly Low 1.3803
Previous Monthly High 1.4009
Previous Monthly Low 1.3669
Daily Fibonacci 38.2% 1.3868
Daily Fibonacci 61.8% 1.3886
Daily Pivot Point S1 1.3846
Daily Pivot Point S2 1.3804
Daily Pivot Point S3 1.377
Daily Pivot Point R1 1.3923
Daily Pivot Point R2 1.3957
Daily Pivot Point R3 1.3999

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