GBP/USD remains below 1.1750

Source: Dukascopy Bank SA


On Tuesday morning, the GBP/USD currency exchange rate was testing the resistance of the last week's low level zone at 1.1715/1.1760. In the meantime, the zone is being approached by the 50 and 100-hour simple moving averages.

A decline of the Pound against the US Dollar could be slowed down by the 1.1700 mark and the weekly S1 simple pivot point at 1.1669. Afterwards, the rate is highly likely going to find support in the 1.1650 level. Further below, take into account the 1.1600 mark and the weekly S2 simple pivot point at 1.1601.

However, a passing of the 1.1715/1.1760 zone and the 50 and 100-hour simple moving averages might result in a move up to the 1.1800 level and the 200-hour SMA. In the meantime, note that the weekly simple pivot point at 1.1785 could act as resistance.
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