The GBP/USD currency pair started Friday’s session rather calmly, being supported by the 200-hour SMA near 1.32. This lack of movement, however, changed at 1230GMT when solid fundamentals from the US altered market sentiment in favour of Dollar bulls. Thus, the Pound ended the previous trading week slightly above the 1.3020 mark and remained in the same range this morning, as well. The aforementioned plunge set the pair in the strongly bearish territory; thus, it is expected that the Pound tries to recover some losses and approach the monthly PP or a resistance cluster formed by the 55– and 200-hour SMAs circa 1.3150. Meanwhile, the lack of market shakers today may likewise keep the pair relatively still, thus resulting in the Pound fluctuating around the 20-hour SMA.
