GBP/USD remains below SMA

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Source: Dukascopy Bank SA


During the first half of Thursday's European trading, the GBP/USD currency exchange rate remained below the resistance of the 55-hour simple moving average. In the meantime, it was spotted that the rate was finding support in the 1.3900 mark.

In the case of the 1.3900 level failing to continue to provide support, the GBP/USD would most likely decline to the 1.3850 level and the 200-hour simple moving average, which could strengthen the round exchange rate level. Although, a drop below these levels could reach the 1.3800 mark.

A potential surge would need to pass the resistance of the 55-hour simple moving average near 1.3940, the 1.3950 mark and afterwards test the resistance zone near 1.4000.
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Thu, 22 Apr 2021 10:54:19 GMT

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