Upside risks have dominated the GBP/USD exchange rate for the third consecutive session. Contrary to expectations, the Pound did not return back to the breach senior channel circa 1.40, but moved confidently towards a new 1,5-year high at 1.43.
Similarly to other major pairs trading against the Greenback, technical indicators of this pair are pointing to a soon decline. This assumption is likewise reinforced by the fact that the bullish sentiment allayed considerably starting from late Wednesday.
In case a reversal is to occur in the nearest hours, this would re-confirm the existence of a three-week ascending channel. In line with this pattern, a strong southern barrier could be provided by the 1.4150 mark; the 55-hour SMA could likewise be located near this area.
