GBPUSD Analysis: Trades below weekly PP
|GBPUSD
The British pound depreciated 0.89% against the US Dollar since Friday's session. During the previous session, the rate passed the 55-hour and the 100-hour SMAs supports together with the 50.00% Fibo and the weekly PP level to stop the trade at the 1.3101 mark. On Monday, the British pound was located below the weekly PP at the 1.3127 mark.
In regards to the near-term future, the currency exchange rate will trade sideways due to support of the 200-hour SMA and resistances of the significant technical indicators. Most likely, the rate will trade at the 1.3050 level during the day.
However, today's fundamentals could break the prediction for the currency pair!
Interested in GBPUSD technicals? Check out the key levels
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