GBP/USD reaches below 1.1450

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Source: Dukascopy Bank SA


At mid-day on Wednesday, the GBP/USD currency pair reached below the 1.1450 level and approached the support of the weekly S1 simple pivot point at 1.1411.

A move below the weekly S1 at 1.1411 is expected to almost immediately pause at the 1.1400 mark. Further below, take into account the 1.1350 level and the weekly S2 simple pivot point at 1.1321.

However, a recovery of the Pound against the US Dollar could encounter resistance in the 1.1450 and 1.1500 levels, before reaching the 50 and 100-hour simple moving average near 1.1520.
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