GBP/USD hot forecast on September 14


GBP/USD has jumped toward 1.39 after US Core CPI missed estimates with 4% YoY. Earlier, the sterling suffered from Brexit concerns and mixed inflation data.

The pound/dollar pair is confined to a clear range in September. Support is found at the double-bottom of 1.3725 and robust resistance is at 1.3895, a quadruple top, which held the cable down since mid-August. Momentum on the four-hour chart is moving to the upside and the currency pair trades above the 50 and 200 Simple Moving Averages.

Above 1.3895, the next levels to watch are 1.3950, 1.3985, and 1.4010.

Support awaits at 1.3785, followed by 1.3725 mentioned earlier, and then by 1.3675.

The material has been provided by InstaForex Company -