In line with expectations, the cable continued to gradually moving to the bottom after making a rebound from the upper edge of a currently active ascending channel that was additionally secured by resistance line at the 1.3338 mark.
In first hours of this trading session the pair managed to bypass the weekly R1 at 1.3300 and the 55-hour SMA at 1.3293, which suggests that the rate is likely to reach the opposite side of the channel by the end of the day. The only obstacle that might alter this scenario and push the pair back to the 1.3290 level is the rising 100-hour SMA. In the upcoming days the currency rate most probably is going to continue heading to the bottom, trying to return to an area near the 1.3230 mark.
