GBP/USD trades below 1.3800

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Source: Dukascopy Bank SA


Since GMT midnight to Monday, the GBP/USD currency exchange rate was finding support in the 1.3760 mark. Meanwhile, resistance was being provided by the combination of the 55 and 100-hour simple moving averages at 1.3790 and 1.3795.

If the GBP/USD passes the resistance of the 55 and 100-hour simple moving averages and the 1.3800 mark, the pair could reach the resistance of the weekly R1 simple pivot point at 1.3831 and the previous week's high at 1.3835.

However, a decline of the rate would most likely first look for support in the 1.3760 level. Afterwards, the 200-hour SMA near 1.3750 might keep the pair up.
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