GBP/USD has managed to edge higher early Wednesday. As FXStreet’s Eren Sengezer reports, the pound needs sentiment boost to extend the rebound.

Cable could find it difficult to gather bullish momentum unless market sentiment continues to improve

“The risk perception is likely to remain the primary market driver. GBP/USD could lose its traction if market participants start to seek refuge.”

“On the upside, 1.3600 (psychological level) aligns as the next target before 1.3620 (static level).”

“Supports are located at 1.3550/1.3560 (200-period SMA, Fibonacci 23.6% retracement), 1.3520 (Fibonacci 38.2% retracement, 100-period SMA) and 1.3500 (psychological level).”

See: GBP/USD to post bullish technical signal on a move above 1.3710/1.3750 – SocGen