GBP/USD analysis: Finds support in 1.3660

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD

At mid-day on Friday, the GBP/USD started to find support in the 1.3660 level. On Monday, the rate bounced off the support level and began a surge. The surge passed the resistance of the 55, 100 and weekly simple pivot points from 1.3675 to 1.3690. Next target for the surge was the 200-hour simple moving average near 1.3720.

In the case that the resistance of the 200-hour SMA fails to push the rate down, the pair would aim at the resistance of the 1.3750 mark and the weekly simple pivot point at 1.3759.

On the other hand, if the 200-hour SMA pushes the rate down, it would look for support in the 1.3660 level, which provided support previously.

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Dukascopy Bank Team

Dukascopy Bank SA

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