GBP/USD pierces resistance zone

Source: Dukascopy Bank SA


The release of the US monthly employment data at 13:30 GMT on Friday increased volatility on all pairs and assets that involve the US Dollar. During the volatility, the currency pair pierced the resistance of the 1.3550/1.3560 zone.

If the GBP/USD clearly passes above the 1.3560 mark, the rate might find resistance in the weekly R1 simple pivot point at 1.3585 and the 1.3600 mark. Higher above, the weekly R2 simple pivot point is located at 1.3647.

Meanwhile, a decline of the pair could find support in the 100-hour simple moving average near 1.3525. Afterwards, the rate might aim at the 200-hour simple moving average near 1.3500. In addition, take into account that the 1.3500 mark had acted as support on its own.
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