- December 22, 2017
- Posted by: range
- Category: FOREX, Technical Analysis
The Pound weakened slightly against the US Dollar on Thursday. This fall, however, was brief, as the pair had managed to return to the 1.3340 mark by this morning. Along the way, the combined resistance of the 55-, 100– and 200-hour SMAs was surpassed with little hindrance.
The Pound is approaching a short-term trend-line located circa 1.34. It is likely that this line together with the aforementioned support pressure the rate from both sides in this session.
Nevertheless, fundamentals scheduled for this session could introduce some changes to this assumption. Apart from the trend-line, the nearest resistance is set by the weekly R1 at 1.3430, while the southern barrier is likewise reinforced by the weekly and monthly PPs.