GBP/USD analysis: Reaches September low levels
|GBP/USD
On Friday morning, the GBP/USD currency pair reached the zone of the September and October low levels at 1.3413/1.3433.
A passing of the support zone at 1.3413/1.3433 would leave the pair with no close-by technical support on the hourly candle chart. The pair could look for support in round exchange rate levels as the 1.3400 and 1.3350. However, take into account that at the start of next week new weekly pivot points will impact the pair. Namely, support levels could be placed in the range from 1.3400 to 1.3350.
Meanwhile, a recovery of the rate might find resistance in the weekly S3 simple pivot point at 1.3466. Higher above, the rate could encounter the weekly S2 simple pivot point at 1.3567, which could be strengthened by the 50-hour simple moving average.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.