GBPUSD: Greenback bulls defend 20-EMA, 1.3000 eyed
is edging higher toward 50, suggesting that the pair has gone into a consolidation phase following Tuesday's drop. 1.3100 aligns as first resistance. In case GBP/USD rises above that level and starts using it as support, it could extend its recovery toward 1.3140 and 1.3160 .
The greenback gathered strength against its rivals in the first half of the week amid surging US Treasury bond yields. The data from the US showed that the business activity in the service sector expanded at a more robust pace than expected in March and hawkish Fed commentary ramped up expectations for a 50 basis points rate hike in May.
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