GBP/USD

During Monday's session, the GBP/USD exchange rate re-tested the upper boundary of the falling wedge pattern at 1.3115.  

From a technical perspective, it is unlikely, that the rate could trade down in the short run, as it is supported by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.3081/1.3091 range.  

It is likely, that the currency pair trades sideways, trying to surpass the given support cluster. 

However, if the given support does not hold, the pair might target the psychological level at 1.3060.

GBPUSD

GBPUSD

 

 

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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