GBP/USD

On Wednesday, the GBP/USD pair's decline found support in the weekly S1 simple pivot point at 1.3264. The pivot point provided enough support for a recovery to start. By the start of Thursday's US trading session, the rate had reached the resistance of the 200-hour simple moving average near 1.3340.

If the pair passes the resistance of the 200-hour simple moving average at 1.3340, the likely target for a potential surge would be the resistance zone at 1.3364/1.3371. The zone kept the GBP/USD down during the first part of this week's trading. Meanwhile, note that the 200-hour SMA caused the recent decline to the weekly S1 simple pivot point, which is located at 1.3264.

However, if the 200-hour SMA pushes the pair down, it could look for support in the 50 and 100-hour simple moving averages, which have shown to be capable of impacting the rate for short periods. Below the SMAs, note the previous two times passed support zone at 1.3278/1.3300. Namely, the lower border of the zone appears to have still caused two surges on Wednesday and Thursday. Further below, the weekly S1 weekly simple pivot point provides support at 1.3264.

GBPUSD

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.

Feed news Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD holds higher ground near 1.0200 ahead of EU Sentix

EUR/USD holds higher ground near 1.0200 ahead of EU Sentix

EUR/USD is trading close to 1.0200 in early Europe, as the US dollar pares strong NFP-inspired gains amid an improving mood. Moody’s cut Italy’s credit rating amid political jitters. US-China tensions over Taiwan loom. EU Sentix awaited. 

EUR/USD News

GBP/USD recaptures 1.2100 amid USD retreat

GBP/USD recaptures 1.2100 amid USD retreat

GBP/USD is edging higher above 1.2100, underpinned by a weaker US dollar amid a positive shift in risk sentiment. Bumper US NFP data ramped up aggressive Fed tightening expectations. UK political woes and a dovish BOE rate hike could cap the pound's upside. 

GBP/USD News

Gold steadies near $1,770 as DXY pares NFP-led gains ahead of US inflation

Gold steadies near $1,770 as DXY pares NFP-led gains ahead of US inflation

Gold price pares intraday losses at around $1,775 amid the initial Monday morning in Europe. The yellow metal’s latest rebound could be linked to the technical support, as well as the US dollar’s retreat, amid a sluggish start to the key week.

Gold News

If Tezos price clears this significant hurdle, XTZ holders are in for a treat

If Tezos price clears this significant hurdle, XTZ holders are in for a treat

Tezos price shows a steady grind toward its forecasted target. This development comes after a successful breakout from a bullish pattern. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Majors

Cryptocurrencies

Signatures