GBP/USD

On Friday, the GBP/USD currency exchange rate declined. The decline started on Thursday when the Bank of England caused surge ended at the 200-hour simple moving average at the 1.3750 level.

If the rate continues to decline, it would most likely look for support in the 55 and 100-hour SMAs and the weekly S1 simple pivot point at 1.3676. Below these levels, there is no support as far as the large low-level zone near 1.3600.

However, a surge would face the 200-hour SMA somewhere near the 1.3740 level. Above the 200-hour SMA the weekly simple pivot point stands at 1.3795. In addition, both the 1.3750 and 1.3800 levels are likely going to provide resistance.

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.

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