GBP/USD Analysis: skyrocketed to 1.3500
|GBP/USD
Yesterday, the GBP/USD exchange rate skyrocketed to the resistance level formed by the Fibo 61.80% and the weekly R1 at 1.3500. During Friday morning, the rate reversed south.
It is likely that the British Pound could continue to depreciate against the US Dollar in the short run. In this case note that the currency pair could gain support of the weekly R2 at 1.3339.
If the given support level holds, it is likely that the British Pound could consolidate against the Greenback in the nearest future. Otherwise, the rate could decline to the support formed by the weekly R1, the monthly R3, as well the 55-hour SMA at 1.3240.
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