Technical analytics



The British pound is still in the downward channel. Selling pressure is holding the spot around its lower end. Bears gathered enough steam to extend their gains on Thursday. The sterling pushed away from 1.3200 and headed towards 1.3100. The technical indicators are giving us sell signals. MACD is declining in the negative area. RSI is still oversold. The 50, 100 and 200 EMAs continued their negative slide. The resistance resides at 1.3200, the support comes in at 1.3100.


We assume that GBP will remain well offered today. We are waiting for another move lower towards the level 1.3100.

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