GBP/USD Analysis: Remains below 1.3000

Dukascopy Bank Team Dukascopy Bank SA

GBPUSD

GBP/USD was surging on Friday. The currency exchange rate had begun to surge on Thursday when it found support in a pivot point at 1.2978.

The rate is expected to continue upwards until it meets with the resistance of a pivot point and the 55-hour simple moving average near the 1.3025 level. Afterwards, these resistance levels should force the currency exchange rate into a decline.

On the other hand, the pair might fluctuate sideways in the range from 1.2980 to 1.3000 until the mentioned simple moving average approaches and pushes the pair down.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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