After the cut rate handed by the BoE so as to avert the unfavorable impact brought by Brexit, the sterling pound remained closed at Friday.
The GBP/USD continued to perform a short-term bearish pattern. The price of the pair is placed between 1.3000 and 1.3100 levels. Following the support stands at 1.2900 while the resistance is established at 1.2900.
The momentum indicators, MACD and RSI disposed a sell signal which changed the indicators slightly on Friday.
The trading instrument continuously move below the 50,100 and 200 EMAs as presented in the 4-hour chart.
The GBP/USD is expected to mark a downward trend towards 1.2900 since the pair's outlook would gain a temporary growth close to 1.3175 at which the 50 and 100 EMAs exists.