GBP/USD - GBP/USD Slipped and Met New 2-Month Low - 01/04/2017 (GMT)

Sterling printed a two-month low versus the U.S. dollar before recovering some of its losses ending the day marginally to the downside. The GBP/USD pair hit the 1.2198 price level as the 50-SMA on the short-term timeframe seems to be a strong obstacle for the bears and the price failed to surpass the 1.2310 resistance barrier. Over the last two daily trading sessions, the pair slipped 0.8%, however, now is approaching 1.2310 again which is slightly below the 100-SMA on the 4-hour chart but first it must surpass above the 50-SMA. The MACD oscillator is holding below both its trigger and zero lines but with very weak momentum while the RSI indicator is moving towards the 50 level.