Yesterday, the GBP/USD exchange rate slipped to the psychological level at the 1.3040 mark.
Given that the rate is pressured by the 55-, 100– and 200-hour SMAs, currently located circa 1.3080, it is expected, that some bearish momentum prevails in the market. A possible downside target is the weekly S1 at 1.3027.
Otherwise, it is likely, that the currency pair trades sideways between the psychological levels, located at 1.3040 and 1.3060 respectively.
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