GBP/USD Analysis: Remains below 1.3000
|GBPUSD
GBP/USD was surging on Friday. The currency exchange rate had begun to surge on Thursday when it found support in a pivot point at 1.2978.
The rate is expected to continue upwards until it meets with the resistance of a pivot point and the 55-hour simple moving average near the 1.3025 level. Afterwards, these resistance levels should force the currency exchange rate into a decline.
On the other hand, the pair might fluctuate sideways in the range from 1.2980 to 1.3000 until the mentioned simple moving average approaches and pushes the pair down.
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