GBP/USD recovers after gaping down

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Source: Dukascopy Bank SA


The GBP/USD started the week's trading with a gap down opening below the 1.3350 mark. Afterwards, during the first half of Monday's trading, the currency exchange rate surged and reached the resistance of the 50-hour simple moving average near 1.3390.

If the currency exchange rate passes above the 50-hour simple moving average, the pair might aim at the weekly simple pivot point at 1.3428, the 1.3450 mark and the 100-hour simple moving average near 1.3475.

However, a potential decline of the Pound against the US Dollar would most likely find support in the Thursday's low level at 1.3275. Further below, note the weekly S1 simple pivot point at 1.3218.
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Mon, 28 Feb 2022 11:00:51 GMT

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