GBP/USD trades between SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In the aftermath of breaking the channel up pattern on Friday, the GBP/USD declined to the support of the 1.3860 level. Afterwards the rate recovered to start trading sideways between the 55 and 200-hour simple moving averages.

If the rate manages to pass the resistance of the 55-hour simple moving average, the pair could once again test the high level of 1.4000. On the other hand, if the support of the 200-hour SMA fails, the GBP/USD could once again reach the 1.3860 level.
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