British Pound Is Losing Ground Against U.S. Dollar.GBP/USD is currently trying to settle below the support level at 1.3465 while U.S. dollar is gaining ground against a broad basket of currencies.The U.S. Dollar Index continues its attempts to settle above the resistance at the 96 level. In case the U.S. Dollar Index manages to settle above this level, it will move towards the next resistance at 96.25 which will be bearish for GBP/USD.
A successful test of the support at 1.3435 will open the way to the test of the support level at 1.3410. If GBP/USD declines below this level, it will move towards the next support level at 1.3375.On the upside, the previous support at 1.3490 will serve as the first resistance level for GBP/USD. If GBP/USD gets back above this level, it will move towards the resistance which is located at the 50 EMA at 1.3505. A move above the 50 EMA will open the way to the test of the resistance at 1.3535.
Don’t miss a thing! Sign up for a daily update delivered to your inbox
Sign Up
Free Forex Signals 