GBP/USD is likewise taking advantage of the weaker US Dollar, thus managing to surge 1.49% in a matter of one session. The biggest gains were apparent during the second half of Friday, while this session started with the Pound trading sideways with low volatility. From theoretical point of view, the pair breached a six-week channel during the previosu session, thus pointing to a possible price decline down to the 1.3850 area. Converging technical indicators likewise support this scenario. Given that there is a bank holiday in the US, it is likely that no massive changes to the pair’s movement are to happen today. The Sterling might remain fluctuating between the weekly R1 and the monthly R2 at 1.3832 and 1.3707, respectively, during the whole session.
