GBP/USD lacks momentum
Like a number of assets cable has drifted for most of this week, with neither side able to muster much momentum. As a result, we continue to watch for a significant break in either direction for the pair.
So long as the price remains above the 200-hour simple moving average (SMA) ($1.41), then the instinct is to buy dips as they occur. The first target is a move to $1.4327 (the 50-day SMA), which would then leave the way clear to push on towards $1.44.