GBP/USD plummets to 1.3500

Source: Dukascopy Bank SA


The Tuesday drop of the GBP/USD consolidated during the second part of the day's trading. On Wednesday morning, the pair resumed the decline, as the rate almost touched the 1.3500 mark. Moreover, the pair had no technical support as low as 1.3463, where the weekly S3 simple pivot point was located at.

In the case that the GBP/USD pair reaches below the 1.3500 level, it would look for support in the weekly S3 simple pivot point at 1.3463. Afterwards, below the pivot point, the 1.3450 mark could provide support.

Meanwhile, a potential recovery might encounter resistance in the weekly S2 simple pivot point before aiming at the cluster of summer low levels from 1.3573 to 1.3608.
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