Dukascopy Bank Team
Dukascopy Bank SA
GBPUSD
During previous trading session, the GBP/USD exchange rate tested the upper boundary of the falling wedge pattern at 1.3128 and reversed south.
From a technical point of view, it is unlikely that the pair could continue to decline due to the support cluster formed by a combination of the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.3078/1.3088 range.
It is expected, that the currency pair re-tests the upper pattern line located in the 1.3100/1.3200 range. However, it is unlikely, that the pair could breach the given pattern due to the resistance level located at the 1.3119 mark.
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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