GBP/USD has faced selling pressure after breaking below the 1.3350 support area. The pair is edging lower toward 1.3300 on Friday and it is unlikely to reverse its direction unless there is a significant improvement in risk mood.
No signs of recovery as dollar capitalizes on safe-haven flows
“A de-escalation of the Russia-Ukraine crisis is nowhere in sight and the greenback is likely to preserve its strength as the safer option.”
“1.3300 (psychological level) aligns as interim support before 1.3270 (static level). In case a four-hour candle closes below the latter, the pair could target 1.3200 (psychological level) next on the downside.”
“Resistances are located at 1.3350 (static level, 20-period SMA), 1.3400 (psychological level) and 1.3430 (static level).”
