The Pound is expected to bounce off the channel line near 1.31 today.
Technical signals point to soon recovery of the GBP/USD exchange rate.
GBP/USD reached new 2018 low early on Tuesday.
The Pound re-tested many-month low near 1.3230 on Monday morning.
GBP/USD is likely to push towards the 1.3350 area today.
The Sterling could break out from bearish channel.
Technical signals point to a decline in this session.
GBP/USD breached the 200-hour SMA early on Tuesday which might point to further downside potential.
The Sterling found support at the 100-hour SMA early today.
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.