GBP/USD: Recovery underway towards 50-day SMA
The British Pound (GBP) is on the bids near 1.3060 versus the US Dollar (USD) during early Tuesday.
Sustained trading above 200-day SMA enables the aim for 1.3095–1.3100 area comprising 50-day SMA, a break of which can further escalate the recovery towards four-week-old trend-line at 1.3180 now.
Given the pair’s dip under 200-day SMA level of 1.2975, 1.2930 including 100-day SMA may gain sellers’ attention whereas 1.2900 may lure them afterward.
Sustained trading above 200-day SMA enables the aim for 1.3095–1.3100 area comprising 50-day SMA, a break of which can further escalate the recovery towards four-week-old trend-line at 1.3180 now.
Given the pair’s dip under 200-day SMA level of 1.2975, 1.2930 including 100-day SMA may gain sellers’ attention whereas 1.2900 may lure them afterward.