Tue, Sep 27, 2022 @ 05:45 GMT
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GBP/USD Analysis: Has Lost Upside Momentum

GBP/USD was not able to maintain its upside momentum, resulting in a fall down to the 55-hour SMA. Subsequently, the pair returned near Friday’s upside limit circa 1.3030 and depreciated once more down to the 55-hour SMA. Technical indicators suggest that the Pound may still respect the boundaries of the ascending channel in this trading session, but the 1.3050/60 area may limit its gains. The upside trend is non-existent at this point; thus a possible move sideways should breach the bottom channel line on Tuesday. The Pound may find support at the 55-hour SMA once again; however, bearish sentiment may prevail and push the British currency below the given level. In case of strong downside risks, the rate is likely to be supported by the 100-hour SMA near 1.2950.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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