GBP/USD: British Pound Likely to Make Move Soon

From dailyforex.com

The British pound has fallen on Wednesday, as we continue to see pressures on this currency. The British pound has fallen again during the trading session on Wednesday against the US dollar as we are now testing the 50-day EMA and the 1.35 level. With that being said, I think we have a bit of a binary setup here. If we break down below the 1.35 level on a daily close, it is very likely that we will see this market drop down to the 200-day EMA, which is currently at the 1.33617 level. If we break down below there, that could change the entire trend. On the other hand, if the market were to turn around and rally and ... (full story)