GBP/USD reaches above 1.4200

Source: Dukascopy Bank SA


On Tuesday, the GBP/USD passed the resistance zone near 1.4160, the weekly R1 simple pivot point at 1.4181 and the 1.4200 mark.

In the near term future, the currency exchange rate was expected to reach fort the 1.4250 level and the weekly R2 simple pivot point at 1.4258. In general, the rate should consolidate below these levels, as due to the hourly simple moving averages being left behind it appears to be overbought.

On the other hand, a potential breaking of the 1.4250 level and the weekly R2 simple pivot point would result in a surge up to the 1.4300 mark.
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