The GBP/USD currency pair failed to surpass the resistance levels formed by the 55-, 100– and 200– hour SMAs on Friday. As a result, the exchange rate fell by 97 pips or 0.70% during Friday’s trading session.
In the near future, the currency exchange rate might pass the weekly support level near the 1.3720 mark. In this case scenario, bears could target the 1.3700 level within this session.
On the other hand, the bearish traders might encounter support near the 1.3740 area today.
