Technical indicators point to further decline today.
A reversal to the downside is expected during the second part of the day.
Reversal for GBP/USD is expected during the second part of the day.
SMAs are likely to impact the Pound in this session.
GBP/USD is expected to reverse to the downside near the psychological 1.34 mark.
Technical signals are more in favour of the bearish scenario for the Pound today.
The Pound continues to edge higher in this session.
The Pound tries to recover after a fall on Tuesday.
The Pound still pressured lower by the 55-hour SMA.
Bullish sentiment should prevail today; however, gains should not surpass the 1.3380 mark.
The Sterling moves along the 55-hour SMA for the second consecutive session.
Strong resistance cluster that could restrict the Pound's appreciation is located at 1.3415.
The Sterling returns to its six-month low of 1.34.
The Sterling's appreciation is restricted by the 55- and 100-hour SMAs ear 1.3470.
Downside potential is still apparent until 1.34.
The bearish sentiment is likely to dominate the Sterling today.
The Sterling remains near all three moving averages.
The pair's movement today is dependent on its ability to breach the strong resistance cluster at 1.3545.
The pair's movement today is dependent on its ability to breach the strong resistance cluster at 1.3555.
The following hours are likely to demonstrate which direction is to prevail in this session.
Given the strong resistance of the 200-hour SMA, the Sterling should not exceed the 1.3580 mark today .
Fundamental events should guide the GBP/USD exchange rate today.
The Pound fails to overcome the 100-hour SMA once again.
The 100-hour SMA could pressure the rate lower today.