GBP/USD Technical Analysis

The British pound has fallen a bit during the trading session on Friday, but it does look like it’s trying to find a little bit of support at the 1.32 level. It is worth noting that we stalled right at the 50-day EMA and the 200-day EMA indicator on Thursday. So, a lot is going on here. We’ll see if the downward trajectory continues. Right now, I’m still a bit bearish, although we may find ourselves trying to form some type of range in the short term.

EUR/GBP Technical Analysis

The euro has shown itself to be slightly negative. After initially rallying against the British pound during Friday’s trading session, we are sitting right at the 50-day EMA and the 0.8750 level, an area that, of course, is a massive previously resistant area. And now you would think there should be a certain amount of market memory here. If we can bounce from here, then we could go back to the 0.8850 level, but without the weight, see whether or not that actually happens. If we fall, then I’ll be paying attention to the 0.87 level, which is the next little cluster of support.

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