GBP/USD Surrenders To King Dollar Ahead Of Critical Testimonies, Levels To Watch

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Pound/dollar has slipped below 1.3775, which was the previous March low, and also provided support in mid-February. At current levels, cable is back to where it was early in February. Momentum remains to the downside and the pair trades below the 50, 100 and 200 Simple Moving Averages.

If the break below 1.3775 is confirmed, the next cushion is at 1.3745, which capped GBP/USD in early February. It is followed by 1.3580, a support line from the same period, and then by 1.3610 and by 1.3565.

Some resistance is at 1.3810, a support line from last week, followed by 1.3860. Further above, the three SMAs converge around 1.39.

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