On Tuesday morning it could be seen that the GPB/USD pair is doing a rebound after finding support in a pivot point.
On Monday, the GBP/USD currency exchange rate fluctuated near the 1.2750 mark. The reason for the almost horizontal trading was the support provided by a monthly pivot point at 1.2744
The GBP/USD broke a significant long-term dominant descending channel during the morning hours of today's session.
Sterling continued it decline against the US Dollar.
The GBP/USD exchange rate remained stable on Wednesday, as it was pressured by the 55-hour SMA.
The GBP/USD currency pair tested a support cluster formed by the combination of the weekly and the monthly PPs near the 1.2934 mark.
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Thursday's session begins with GBP/USD trading with high volatility, thus allowing the pair to crash by 56 base points during the morning UK's session.
The GBP/USD currency exchange rate is facing a steep resistance cluster near 1.3130 during the European trading session on Wednesday.
The Pound Sterling continued trading sideways against the US Dollar for the third consecutive trading session.
The GBP/USD pair was stranded between SMAs during the morning hours.
The Sterling faces a strong resistance cluster which may not surrender today.
The Pound is hindering near the 200-period (4H) SMA circa 1.3210.
Traders should watch the 55- and 200-hour SMAs at 1.3120.
A breakout from the 100-hour SMA should be followed by a further fall.
The Pound is likely to be bound by several SMAs today.
The Pound continues to trade sideways against the Greenback since mid-THursday.
Strong bearish sentiment has pushed the Pound back to its 2018 low.
The 200-hour SMA is likely to guide the pair in this session.
The 200- and 100-hour SMAs are likely to guide the pair in this session.
On Thursday the main effort in analysing the GBP/USD was spent marking the new junior descending pattern.
On Thursday the main effort in analysing the GBP/USD was spent marking the new junior descending pattern.
During the last few trading session the GBP/USD pair has continued to trade sideways between and around two hourly simple moving averages.