GBP/USD aims at 1.3200

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Wednesday, the GBP/USD currency exchange rate step by step surged, as by 16:00 GMT the pair had passed the 50, 100 and 200-hour simple moving averages and reached the 1.3180 mark. In the near term future, the pair was expected to approach the weekly simple pivot point at 1.3198 and the 1.3200 level.

If the Pound manages to surge against the US Dollar above the 1.3200 mark, the rate might encounter resistance at 1.3215/1.3225. Last week, this zone acted as resistance and stopped all moves above the 1.3200 level. Higher above, take into account the weekly R1 simple pivot point at 1.3275 and the resistance zone near 1.3300.

On the other hand, a decline of the currency pair might look for support in the 200-hour simple moving average at 1.3168, the 100-hour SMA at 1.3143 and the 50-hour simple moving average near 1.3110. Below the moving averages the 1.3100 mark and the weekly S1 simple pivot point might stop a decline.
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