GBP/USD reaches 1.3600 mark - Technical Analysis - Dukascopy Bank
Wed, 30 Dec 2020 16:39:40 GMT
Source: Dukascopy Bank SA
The rate has approached the resistance zone of the December high levels. In the case of this zone being passed, the GBP/USD could reach for the weekly R1 simple pivot point at 1.3734. However, prior to reaching this level, the rate could face the resistance of the 1.3650 and 1.3700 levels.
On the other hand, in the case of the resistance holding, the pair should either trade sideways or retrace back to the support of the 55, 100 and 200- hour simple moving averages.
In the meantime, take into account the supporting trend line, which is drawn by connecting the December 21 and 28 low levels.
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