GBP/USD analysis: Tests 1.4100

GBP/USD

During Wednesday’s trading session, the Pound Sterling plunged by 61 pips or 0.43% against the US Dollar. The currency pair breached the 55-, 100– and 200– hour SMAs on Wednesday.

Technical indicators suggest buying signals on the daily time-frame chart. Most likely, the GBP/USD exchange rate could edge higher during Thursday’s trading session.

However, if the currency exchange rate breaks the support level at 1.4100, a decline towards the 1.4060 area could be expected today.

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