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.
The GBP/USD currency pair reaches two weeks low level.
The GBP/USD currency pair declines after BoE increased interest rate.
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.
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.