GBP/USD analysis: Extends its surge
|GBP/USD
The GBP/USD currency exchange rate has continued to move higher. At mid-day on Wednesday, the rate left below it the hourly simple moving averages, the weekly simple pivot point and the high level resistance zone near 1.3280. By 12:00 GMT, the GBP had reached the 1.3320 mark against the USD.
A continuation of the surge of the Pound against the US Dollar could result in the rate reaching the weekly R1 simple pivot point at 1.3357 and the December high level at 1.3375.
Meanwhile, a decline of the pair might look for support in the previously passed technical levels. Namely, note the 50, 100 and 200-hour simple moving averages, the weekly simple pivot point and the previous high level zone. All of these levels and indicators are located in the 1.3240/1.3290 zone.
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