Can GBP hold on to recent gains?

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The Pound has clearly revelled in the presence of a weaker US dollar, with GBPUSD surging past the 1.40 psychologically-important level this week to make another run towards its year-to-date high.

However, even though momentum still points northwards, Sterling’s gains may have arrived too much too soon. After flirting with overbought territory earlier this week, with its 14-day relative strength index about to hit the 70 level, the currency pair is now easing slightly. Going by that technical indicator, this currency pair is perhaps biding its time before emulating the 1.42 level…. Read More:

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