The decline of the GBP/USD did not reach the support of the 200-hour simple moving average on Thursday. Instead, the rate found support in the 1.4005/1.4015 zone, which had provided both resistance and support on Monday.

On Friday morning, the GBP/USD had recovered to the 1.4070 level, where it encountered the 55-hour simple moving average. The 55-hour SMA could provide resistance to the currency exchange rate.

In the case of the rate surging above the 55-hour simple moving average, the pair could reach for the combined resistance of the 100-hour simple moving average, the 1.4100 mark and the 1.4105/1.4110 zone.

If the rate fails to pass the 55-hour SMA, the GBP/USD could look for support in the 1.4005/1.4015 zone and the 200-hour simple moving average near 1.4000.


This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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