The British pound initially shot higher during the course of the week but the 1.39 level continues offer quite a bit of resistance. By doing so, the market has turned around again.
The British pound has gone back and forth yet again during the trading session on Friday, as we are sitting just below the 50 day EMA. This is a market that continues to see choppy and indecisive behavior.
GBP/USD settled below the 50 EMA and is testing the support level at 1.3800.