GBP/USD Price Analysis: Stays on bear’s radar unless crossing 1.3810

• GBP/USD keeps pullback from 200-SMA, remains pressured of late.
• Sluggish MACD challenges bulls, multiple trend line confluence adds to the hardships.
• Sellers wait for a clear break of weekly support line.

GBP/USD edges lower around 1.3770 during Thursday’s Asian session, after stepping back from 200-SMA the previous day.

In addition to the key moving average, sluggish MACD also probes the pair buyers below the key resistance confluence around 1.3810 comprising multiple trend lines stretched from late July and August.

Even so, the latest pullback gains more attention unless dragging the quote below an ascending support line from August 20, near 1.3745.

Should GBP/USD sellers manage to conquer 1.3745, the 1.3700 round figure and Friday’s low near 1.3680 may entertain them ahead of the last month’s bottom surrounding 1.3600.

On the contrary, a clear upside break of 1.3810 will quickly propel GBP/USD prices towards the monthly horizontal resistance near 1.3875-80 before directing the bulls towards the late July peak near 1.3980.

GBP/USD: Four-hour chart

Trend: Pullback expected