GBP/USD analysis: Remains below December high

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD

Starting from Tuesday up to the middle of Wednesday's trading, the resistance zone at 1.3550/1.3557 continued to hold, as the GBP/USD was making its third attempt at breaking it. Previous forecast scenarios remained unchanged.

In the near term future, a move above the 1.3550 mark might aim at the weekly R1 simple pivot point at 1.3585. Afterward, the 1.3600 mark could provide resistance, before the GBP/USD reaches the weekly R2 simple pivot point at 1.3647.

Meanwhile, a potential decline is highly likely set to look for support in the 50 and 100-hour simple moving averages near 1.3500. Below the 1.3500 mark, the weekly simple pivot point at 1.3489 could stop a decline.

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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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