GBP/USD analysis: Tests 200-hour SMA

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD

Yesterday, the GBP/USD exchange rate re-tested the psychological level at 1.3120. During Friday morning, the rate was testing the 200-hour SMA near 1.3080.

If the given moving average holds, it is likely that the currency pair could reverse south and re-test the lower boundary of the medium-term ascending channel circa 1.3030.

On the other hand, the pair could gain support from the 55– and 100-hour SMAs near 1.3060. Thus, it is likely that some upside potential could prevail in the market.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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