GBPUSD – fresh bulls attack again key 1.40 zone
Cable is in fresh bullish acceleration after dips in Asia were contained by 30SMA, which marked strong support in past couple of sessions.
Fresh attempts higher are pressuring daily cloud top (1.3979) and looking for renewed attack at psychological 1.40 barrier, after repeated rejections in the zone in past few days.
Bullishly aligned daily MA’s remain supportive, but lack of stronger momentum might be an obstacle.
Sustained break above 1.40 zone (top of congestion which extends into fourth straight day) is needed to signal continuation of recovery leg from 1.3711 (01 Mar) towards 1.4070/ 1.4103 (01 Mar high / Fibo 61.8% of 1.4345/1.3711 descend).
Repeated failure at 1.40 zone would signal extended range trading, while key supports at 1.3913/02 (30SMA / broken bear-trendline off 1.4345 peak) hold.
Firm break below 1.39 handle would mark lower platform and generate bearish signal fresh weakness.
Res: 1.3979; 1.4000; 1.4028; 1.4070
Sup: 1.3913; 1.3902; 1.3888; 1.3853