Dukascopy

GBP/USD meets 100-hour SMA

FX:GBPUSD   Pound British/Dolar U.S.
GBP/USD meets 100-hour SMA

Previous trading session the Pound ended with a 104-pip fall against the Dollar. The support was provided by the 100-hour SMA . Most probably this indicator will continue to drive the cable up to the 55-hour SMA located at 1.3553. Even in case of release of disappointing British Services PMI data the pair is not expected to fall below the 1.3500-1.3580 marks as this support area is additionally secured by the 50% Fibonacci retracement level and the weekly <