The British pound appreciated 0.24% against the US Dollar since Friday’s session. During the previous session, the rate broke the monthly PP at 1.3038 and was resisted by the 55-hour SMA at 1.3060 to stop the trade at the 1.3054 mark. On Monday morning, the rate broke the resistance of the 55-hour SMA to trade at the 1.3079 mark.
In regards to the near-term future, most likely, the British pound will trade between the weekly pivot point at 1.3405 and the monthly pivot point at 1.3038 due to a lack of any fundamental news during the trading session.
In addition, the 55-hour simple moving average will try to support the rate at 1.3050 level on Monday.
In regards to the near-term future, most likely, the British pound will trade between the weekly pivot point at 1.3405 and the monthly pivot point at 1.3038 due to a lack of any fundamental news during the trading session.
In addition, the 55-hour simple moving average will try to support the rate at 1.3050 level on Monday.
Comment:
During Wednesday’s trading session, the British Pound was stopped from the retracement by the support of the 62.20% Fibo at 1.2867 to end the trading day at 1.2884 mark. On Thursday morning, the rate was supported by the weekly S2 at 1.2880 to trade at the 1.2908 mark.
On Thursday, the British pound will trade sideways due to supports of the weekly S2 at 1.2880 and the 62.20% Fibo at 1.2867. It is expected that the currency exchange pair will be trading at the 1.2880 level. Meanwhile, the 55-hour SMA will try to catch up the rate to resist the rate during the day.
However, the rate could break the support levels of the S2 and the 62.20% Fibo if the US Dollar will appreciate against the British Pound after today’s fundamentals.
During Wednesday’s trading session, the British Pound was stopped from the retracement by the support of the 62.20% Fibo at 1.2867 to end the trading day at 1.2884 mark. On Thursday morning, the rate was supported by the weekly S2 at 1.2880 to trade at the 1.2908 mark.
On Thursday, the British pound will trade sideways due to supports of the weekly S2 at 1.2880 and the 62.20% Fibo at 1.2867. It is expected that the currency exchange pair will be trading at the 1.2880 level. Meanwhile, the 55-hour SMA will try to catch up the rate to resist the rate during the day.
However, the rate could break the support levels of the S2 and the 62.20% Fibo if the US Dollar will appreciate against the British Pound after today’s fundamentals.
Comment:
During Thursday’s trading session, the British Pound passed through the resistances of the weekly S2 at 1.2880 and the 62.20% Fibo at 1.2867 to end the trading day at 1.2814 mark. On Friday morning, the rate was trading sideways at the 1.2818 mark.
In regards to the near-term future, most likely, the British pound will move towards the monthly S1 at 1.2778 to trade at the 1.2780 level. The simple moving averages will try to catch up the rate during the trading session.
Besides, none of today’s fundamental news could affect the exchange currency pair to surge upwards to the 62.20 % Fibo or break the support levels of the monthly S1 at 1.2778 and weekly S3 at 1.2749 on Friday.
During Thursday’s trading session, the British Pound passed through the resistances of the weekly S2 at 1.2880 and the 62.20% Fibo at 1.2867 to end the trading day at 1.2814 mark. On Friday morning, the rate was trading sideways at the 1.2818 mark.
In regards to the near-term future, most likely, the British pound will move towards the monthly S1 at 1.2778 to trade at the 1.2780 level. The simple moving averages will try to catch up the rate during the trading session.
Besides, none of today’s fundamental news could affect the exchange currency pair to surge upwards to the 62.20 % Fibo or break the support levels of the monthly S1 at 1.2778 and weekly S3 at 1.2749 on Friday.
During Tuesday’s trading session, the British Pound was supported by the weekly S1 at 1.2974 to stop the trade at 1.2980 mark. On Wednesday morning, the rate broke the support of the weekly S1 to trade at 1.2951.
In regards to the near-term future, most likely, the British pound will trade downwards to stay at the 1.2900 level during the trading session. Meanwhile, the 55-hour simple moving average will try to catch up the rate to give resistance to the rate on Wednesday.
On the other side, the British pound could trade sideways to stay at 1.2920 level due to a lack of fundamental news for the currency pair during the trading session on Wednesday.