GBP/USD

Yesterday, the GBP/USD exchange rate traded sideways near the monthly S2 at 1.2835.

It is likely that the currency pair could gain support from the 100– and 200-hour moving averages in the 1.2800 area. Thus, the pair could re-test the upper boundary of the medium-term descending channel circa 1.2950.

In the meantime, the exchange rate could face the resistance provided by the 55-hour moving average near 1.2850. Thus, the rate could trade downwards in the short term.

gbpusd

 

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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