Pound May Be Heading For Short-Term Losses After Touching Resistance

The British Pound has been trading more-or-less above the 200-period simple moving average since June 9 on a 60-minute chart. It has used this series of technical levels as foundational support and has found clean downward resistance at the identified trend line. GBP/USD now finds itself trading lower after hitting this downward ceiling. With momentum shifting to the south side, the pair may once again find itself hitting the moving average.