Key quotes
“Despite the stabilization, momentum on the 4-hour chart remains to the downside. Cable is struggling to recapture the 50
Simple Moving Average while still holding above the 100 and 200 SMAs.”
The next levels to watch are 1.3420, 1.3480, and 1.3510
“Support awaits at 1.3240, Thursday's low, followed by 1.3175 and 1.3120, both stepping stones on the way up. The next lines to watch are 1.3050 and 1.30.”
“Resistance is at 1.33, a round level that worked in both directions. It is followed by 1.3360, which capped GBP/USD both on the way and when descending. The next levels to watch are 1.3420, 1.3480, and 1.3510.”
GBP/USD: Momentum stays to the downside
