GBP/USD daily overview
Updated
The British pound appreciated 0.38 % against the US Dollar since Friday’s session. On Monday morning, the British pound returned in the pattern to trade at the 1.3077 mark.
During Monday’s session, most likely, the rate will surge upwards to the 1.3080 level due to the support of the weekly pivot point at the 1.3055 mark and the 200-hour simple moving average.
Moreover, the 55-hour simple moving average will catch the rate to give additional support for the currency pair to surge during the trading day.
During Monday’s session, most likely, the rate will surge upwards to the 1.3080 level due to the support of the weekly pivot point at the 1.3055 mark and the 200-hour simple moving average.
Moreover, the 55-hour simple moving average will catch the rate to give additional support for the currency pair to surge during the trading day.
Note
The British pound depreciated 0.49 % against the US Dollar since Monday’s session. During Tuesday morning hours, the British pound was located above the weekly PP at the 1.3055 mark.
In regards to the near-term future, most likely, the British pound will move upwards to the 1.3100 level due to support of the 100-hour and the 200-hour SMAs together with the support of the weekly PP at the 1.3055 mark. The rate should pass the 55-hour SMA to surge upwards during the day.
However, the currency pair may trade sideways to stay at the 1.3060 level on Tuesday.
Note
The British pound appreciated 0.49 % against the US Dollar since Tuesday’s session. During Wednesday morning hours, the British pound was trading at the 50.00% Fibo at 1.3163 mark.
In regards to the near-term future, most likely, the British pound will trade downwards due to the resistance of the 50.00% Fibo on Wednesday. The simple moving averages will try to catch up the rate during the trading session.
On the other side, the rate might pass through the 50.00% Fibo to surge upwards passing through the weekly R1 at the 1.3188 mark to trade at the 1.3200 level.
Note
The British pound appreciated 0.33 % against the US Dollar since Wednesday’s session. During Thursday morning hours, the British pound was trading between the weekly R2 and the weekly R1 at the 1.3196 mark.
In regards to the near-term future, most likely, the rate should bounce off the upper boundary of the large descending pattern to trade at the 1.3160 level during the day.
However, today’s UK fundamental data sets may push the rate higher to break resistances to surge to the 1.3250 level on Thursday.
Note
The British pound appreciated 0.27% against the US Dollar since Thursday’s session. During Thursday’s trading session, the rate broke the upper boundary of the large descending pattern to trade at the 1.3200 level. On Friday, the British pound was located below the weekly R2 at the 1.3240 mark.
In regards to the near-term future, most likely, the currency exchange rate will break the resistance of the weekly R2 at the 1.3256 due to the support of the 55-hour SMA and the support of the large pattern line to trade at the 1.3260 level.
On the other side, the British pound might get resisted by the weekly R2 to move the rate to trade sideways at the 1.3220 level during the trading session.
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