Open trading account 
Sterling is easing against the US dollar on Thursday morning European session.
The exchange rate trades at 0655 near the 1.2870 area, squeezed between the 20-hour SMA (1.2902) and the lower boundary of the hourly Bollinger bands (1.2862).
If the previous mentioned level, 1.2862, fails to provide support, the fall may be likely hindered at the weekly R1 (1.2833). Below there, the 100-hour SMA stands at 1.2820.
On the upside, an extension may be first limited by the weekly R2 (1.2913), followed the combination of this week's high and the upper boundary of the hourly Bollinger bands (1.2935/40). In case of a massive recovery, the weekly R3 stands at 1.2998.
The exchange rate trades at 0655 near the 1.2870 area, squeezed between the 20-hour SMA (1.2902) and the lower boundary of the hourly Bollinger bands (1.2862).
If the previous mentioned level, 1.2862, fails to provide support, the fall may be likely hindered at the weekly R1 (1.2833). Below there, the 100-hour SMA stands at 1.2820.
On the upside, an extension may be first limited by the weekly R2 (1.2913), followed the combination of this week's high and the upper boundary of the hourly Bollinger bands (1.2935/40). In case of a massive recovery, the weekly R3 stands at 1.2998.
