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.
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.