The GBP/USD started the week by opening higher. Although, by the middle of the day’s trading the rate had not moved, as it traded sideways just below the 1.3250 level.
Meanwhile, the rate had been approached by the resistance of the 55-hour simple moving average. In addition, the 100-hour SMA had also begun to provide technical resistance to the rate.
In general, the resistance levels might push the rate down into the weekly PP at 1.3204. On the other hand, if they fail, the rate would push up to the 1.3350 mark.
