GBP/USD - GBP/USD Struggles Beneath the 15-Month High and Lost Some Ground - 09/20/2017 (GMT)

Sterling lost some gains of the previous aggressive bullish run against the greenback following the pullback on the 15-month high at 1.3616. The GBP/USD pair added more than 4.6% so far this month, while this week is snapping four consecutive winning sessions, posting a negative week. Now, the cable is developing within the 1.3445 – 1.3616 area and we are expecting for a penetration in either direction to have a clear continuation of the trend.

On the short-term chart, the MACD oscillator is standing above the trigger line, whilst the RSI indicator lies in the overbought zone. Also, the stochastic oscillator posted a bearish crossover with its moving averages in the overbought zone, indicating a bearish movement.