During Thursday’s trading session, the currency exchange rate jumped by 142 pips or 1.11% to the 1.3000 mark. On Friday morning, the rate was located between the 55-hour and the 100-hour simple moving averages at the 1.2949 mark.
In regards to the near-term future, most likely, the rate will trade sideways to stay at the 1.2900 level for the rest of the trading session.
However, the 55-hour simple moving average could support the British Pound to appreciate against the US Dollar to break the resistance level of the 200-hour simple moving average. It is expected that the rate could trade near the weekly S1 at the 1.3014 mark.
Written by Admin
These are the stocks posting the largest moves in midday trading. Signal2frex feedbacks ...
Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, ...
The S&P 500 just had its worst first half in more than 50 years, which ‘stressed’ this classic investment strategy
Stock trader on the floor of the New York Stock Exchange.Spencer Platt | Getty Images ...