During the last few trading session the GBP/USD pair has continued to trade sideways between and around two hourly simple moving averages.
The Pound has gained more ground against the US Dollar. However,
The short term pattern of the Pound against the US Dollar has been broken due to European politics.
The previously drawn patterns of the GBP/USD pair have continued to push the currency exchange rate higher.
On Wednesday there were many developments in regards to the GBP/USD currency pair.
The Pound's expected surge in the borders of a dominant descending channel pattern has not occurred due to the prevailing strength of another pattern.
The Pound's expected surge in the borders of a dominant descending channel pattern has not occurred due to the prevailing strength of another pattern.
The Pound's direction today should be determined by its ability to breach the 55-hour SMA at 1.3130.
Strong bearish momentum prevails on Thursday morning.
The strong resistance cluster located near 1.3250 could trigger bearish momentum.
The Pound has not left the 1.3315/1.3310 range for three sessions.
On Monday morning the Pound traded near the support of the weekly pivot point at the 1.3230 mark against the Greenback.
The pair trading sideways might point to a possible change in sentiment in this session.
The Pound is expected to bounce off the channel line near 1.31 today.
Technical signals point to soon recovery of the GBP/USD exchange rate.
GBP/USD reached new 2018 low early on Tuesday.
The Pound re-tested many-month low near 1.3230 on Monday morning.
GBP/USD is likely to push towards the 1.3350 area today.
The Sterling could break out from bearish channel.
Technical signals point to a decline in this session.
GBP/USD breached the 200-hour SMA early on Tuesday which might point to further downside potential.
The Sterling found support at the 100-hour SMA early today.
Technical indicators point to further decline today.
A reversal to the downside is expected during the second part of the day.