GBP/USD analysis: Trades between SMAs

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD

The GBP/USD traded on Monday in the 1.3300/1.3350 range. In the meantime, the pair was being influenced by the resistance and support of the hourly simple moving averages. Namely, the 55 and 100-hour SMAs were providing resistance, as the 200-hour SMA provided support.

In the near term future, if the pair passes the resistance of the 55 and 100-hour SMAs, the GBP/USD would once again test the resistance zone from 1.3380 to 1.3400.

On the other hand, if the 200-hour SMA fails to provide support, the rate could first test the support of the 1.3300 mark and afterwards the weekly S1 simple pivot point at 1.3257.

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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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