The Sterling remained steady against the US Dollar on Friday except for a slight 54-pip surge early in the day. These gains, however, were already erased within the following hours.
On Monday, the pair was still lingering slightly below its post-Brexit high of 1.4213. Thus, it is likely that the pair tests this mark or edges even higher towards the weekly R1 or R2 at 1.4233 and 1.4424, respectively, in this session, as the combined support of the 55– and 100-hour SMAs could guide the Pound and limit a fall below 1.42. In addition, another bullish signal is provided by the dashed trend-line which was breached on Thursday.
Meanwhile, a fall below the 1.42 mark should continue until the 200-hour SMA and the weekly S1 near 1.4150 are reached. In terms of fundamentals, the US is to release its Retail Sales at 1230GMT.
