During Friday’s trading session, the 55-hour simple moving average supported the British Pound to trade sideways at 1.3250. On Monday morning, the rate passed the support level of the 55-hour SMA to be located at the 1.3240 mark.
In regards to the near-term future, most likely, the support levels of the 100-hour simple moving average and the weekly pivot point at 1.3214 might push the rate to surge towards the 1.3350 level.
On the other hand, the rate could pass through the weekly pivot point at 1.3214 to trade towards the 50.00% Fibonacci retracement level at the 1.3163 mark.
In regards to the near-term future, most likely, the support levels of the 100-hour simple moving average and the weekly pivot point at 1.3214 might push the rate to surge towards the 1.3350 level.
On the other hand, the rate could pass through the weekly pivot point at 1.3214 to trade towards the 50.00% Fibonacci retracement level at the 1.3163 mark.
Comment:
During Tuesday’s trading session, the 100-hour simple moving average supported the rate to reach the 1.3300 level. During Wednesday’s morning hours, the 55-hour and the 100-hour simple moving averages retraced the rate to the 1.3222 mark.
In regards to the near-term future, most likely, the 200-hour simple moving average will support the currency exchange rate to push it to trade at the 1.3250 level.
On the other hand, today’s UK CPI release at 9:30 GMT might push the rate to pass through the support level towards the 50.00% Fibo at the 1.3163 mark.
During Tuesday’s trading session, the 100-hour simple moving average supported the rate to reach the 1.3300 level. During Wednesday’s morning hours, the 55-hour and the 100-hour simple moving averages retraced the rate to the 1.3222 mark.
In regards to the near-term future, most likely, the 200-hour simple moving average will support the currency exchange rate to push it to trade at the 1.3250 level.
On the other hand, today’s UK CPI release at 9:30 GMT might push the rate to pass through the support level towards the 50.00% Fibo at the 1.3163 mark.
Comment:
During Wednesday’s trading session, the currency exchange rate passed the support level of the 200-hour simple moving average to end the trading session at 1.3200. On Thursday morning, the rate was located at the 50.00% Fibo at 1.3163. Note, the chart was fully reviewed to draw a new pattern!
In regards to the near-term future, it is expected that the British Pound will be trading below the 50.00% Fibonacci retracement level to stay at the 1.3100 level.
On the other hand, today’s UK Retail Sales at 9:30 GMT might push the British Pound to appreciate against the US Dollar to the 1.3200 level.
During Wednesday’s trading session, the currency exchange rate passed the support level of the 200-hour simple moving average to end the trading session at 1.3200. On Thursday morning, the rate was located at the 50.00% Fibo at 1.3163. Note, the chart was fully reviewed to draw a new pattern!
In regards to the near-term future, it is expected that the British Pound will be trading below the 50.00% Fibonacci retracement level to stay at the 1.3100 level.
On the other hand, today’s UK Retail Sales at 9:30 GMT might push the British Pound to appreciate against the US Dollar to the 1.3200 level.
Comment:
During Thursday’s trading session, the currency exchange rate dropped by 107 pips or 0.81% to reach the weekly S1 at 1.3044. On Friday morning, the rate was retraced by the 50.00% Fibo to the 1.3115 mark.
It is challenging to predict movements of the GBP/USD currency pair due to high volatility caused by Brexit deal uncertainties.
Most likely, the British Pound will keep depreciating against the US Dollar towards the weekly S1 at the 1.3044 mark. It is expected that the rate could stay at the 1.3050 level until the end of the trading session.
During Thursday’s trading session, the currency exchange rate dropped by 107 pips or 0.81% to reach the weekly S1 at 1.3044. On Friday morning, the rate was retraced by the 50.00% Fibo to the 1.3115 mark.
It is challenging to predict movements of the GBP/USD currency pair due to high volatility caused by Brexit deal uncertainties.
Most likely, the British Pound will keep depreciating against the US Dollar towards the weekly S1 at the 1.3044 mark. It is expected that the rate could stay at the 1.3050 level until the end of the trading session.
During Monday’s trading session, the currency exchange rate passed through most of the technical indicators to end the trading session at 1.3200. On Tuesday morning, the 55-hour simple moving average supported the rate to trade at the 1.3269 mark.
In regards to the near-term future, most likely, the 55-hour and the 100-hour simple moving average will support the British Pound during the day to push it to the 1.3300 level.
On the other hand, today’s UK Average Earnings Index release at 9:25 GMT might push the rate to pass through the support levels towards the weekly PP at the 1.3214 mark.