The GBP/USD currency exchange rate passed the support of the 1.3800 level on Thursday. However, at the 1.3765 level the rate stopped its decline without reaching the support of the weekly S1 simple pivot point. Moreover, the 1.3765 has not been acting as support during September.
On Friday, the currency exchange rate had recovered and failed at an attempt to pass the resistance cluster at 1.3815/1.3825. The resistance cluster consisted of the 55, 100 and 200-hour simple moving average and the weekly simple pivot.
If the currency pair passes the resistance cluster at 1.3815/1.3825, the rate could surge to the September 15 and 16 high level at 1.3850. A passing of the 1.3850 would most likely result in a test of the resistance of the weekly R1 simple pivot point at 1.3910.
Meanwhile, a decline could once again find support at 1.3765. Below the 1.3765 level, the weekly S1 simple pivot point and the 1.3750 level might stop a GBP drop against the USD.
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