“¢ The pair failed to capitalize/build on Friday’s goodish up-move beyond the 1.3200 handle and came under some fresh selling pressure on the first trading day of the week.
“¢ The intraday uptick faced rejection at 200-hour SMA, coinciding with Friday’s swing high, near the 1.3220 region, and might now act as a key pivotal point for short-term traders.
“¢ Currently holding near an ascending trend-line support, neutral technical indicators on the 1-hourly chart have also failed to provide any firm intraday directional impetus.
“¢ Hence, it would be prudent to wait for a sustained break below the mentioned trend-line or a decisive move beyond 200-hour SMA before confirming the pair’s intraday momentum.
GBP/USD 1-hourly chart
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