GBP/USD trades below 1.4000

Source: Dukascopy Bank SA


On Monday, the GBP/USD currency exchange rate was testing the resistance of the 1.4000 mark. Meanwhile, a cluster of technical resistance levels was located just above the 1.4000 mark.

In the case of the 1.4000 mark being passed, the pair could reach for the 55 and 200-hour SMAs and the weekly simple pivot point in the 1.4015 to 1.4025. If these levels do not provide resistance, the 100-hour SMA at 1.4067 could be tested next.

On the other hand, if the rate bounced off the 1.4000 mark, it could once again test the 1.3900 level. The 1.3900 level provided the pair with support on Friday. In the meantime, note that the zone around 1.3850 has been marked, as it has provided support in the recent past.
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