Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD
On Thursday, the GBP/USD exchange rate rised to the 55-hour moving average, currently located at 1.2662. During today's morning, the rate tested the resistance formed by the 100-hour SMA at 1.2690.
If the given resistance holds, it is expected, that some downside potential could prevail in the market, and the rate could target the support level—the weekly S1 at the 1.2610 mark.
However, if the 55--hour moving average holds, it is likely, that the currency pair could surpass the given resistance and target the 200-hour moving average, currently located at 1.2765.
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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