GBP/USD analysis: Respects moving averages
|GBP/USD
The GBP/USD failed to pass the combined resistance of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point in the 1.4120/1.4138 zone. On Tuesday, the rate had retreated to the support zone of the June low levels.
If the rate passes the support of the June low levels, it would most likely reach the support of the weekly S1 simple pivot point at 1.4062. Below it, the 1.4050 mark could provide support.
On the other hand, a potential surge would have to once again test the 1.4120/1.4138 zone with the hourly simple moving averages and the weekly simple pivot point.
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