GBP/USD analysis: Trades below 1.4200

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD

On Monday, the GBP/; USD traded below the 1.4200 marks, which provided resistance. In the meantime, support was being provided by the 100 and 200-hour simple moving averages near 1.4160.

In the case of the rate surging, it would once again test the resistance of the 1.4200 marks. Passing of this level would encounter resistance in the zone above the 1.4220 level.

On the other hand, a failure of the 100 and 200-hour SMAs to provide support could result in a decline to the weekly S1 simple pivot point at 1.4119.

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Dukascopy Bank Team

Dukascopy Bank SA

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