Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD
The GBP/USD currency exchange rate surge has encountered resistance at 1.3605/1.3610. This zone proved that it can impact the pair during the first trading sessions of November.
If the resistance zone of 1.3605/1.3610 holds, a decline of the rate might occur. A potential move down could find support in the 100-hour simple moving average at 1.3555. Below the 100-hour SMA, the weekly simple pivot point at 1.3543 might act as support. In the case of the pivot point failing, the 50-hour SMA near 1.3525 might stop a decline.
On the other hand, a move above the resistance zone would almost immediately encounter the resistance of the 200-hour simple moving average at 1.3626. Above the SMA, the weekly R1 simple pivot point at 1.3661 might provide resistance.
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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