GBP/USD analysis: Trades below 1.4200
|GBP/USD
On Monday, the GBP/; USD traded below the 1.4200 marks, which provided resistance. In the meantime, support was being provided by the 100 and 200-hour simple moving averages near 1.4160.
In the case of the rate surging, it would once again test the resistance of the 1.4200 marks. Passing of this level would encounter resistance in the zone above the 1.4220 level.
On the other hand, a failure of the 100 and 200-hour SMAs to provide support could result in a decline to the weekly S1 simple pivot point at 1.4119.
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.