Following the reaching of the support cluster near the 1.3580 mark, the GBP/USD currency pair eventually passed it at the middle of Thursday’s trading session. However, the rate’s decline eventually was paused by a 38.20% Fibonacci retracement level at the 1.3539 level.
On Friday the rate was about to get squeezed in between the both mentioned levels. Although, it was expected that the rate will eventually continue its decline, as additional resistance in the form of the 55-hour SMA was approaching.
