FX.co ★ GBP/USD

GBP/USD Good Saturday evening. Regarding the results of the past trading week for the GBP/USD currency pair, we see on the four-hour chart that, with the support of the Murray indicator, the bears attempted to break through the 1/8 level (1.3153), and at one point the pair fell to 1.3135, which now stands as the new four-hour local low. The subsequent bullish correction ended below the 1.3265 high, which points to a further decline in the British pound against the US dollar in the near term. The close of trading for the GBP/USD pair looks such that the stochastic has already turned downward, supporting the bears, while the quotes are trading at 1.3194, preparing to break the 14-period moving average line and, prospectively, the main Murray support at 0/8 (1.3184). Going forward, we will be looking for a decline toward the beginning of the 1.31 handle with a shift of the current Murray trading tier to the lower one.