GBP/USD trades between SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since the middle of Monday's European trading hours, the GBP/USD currency exchange rate has been fluctuating between the support of the 1.3400 mark and the 50-hour simple moving average and resistance of the weekly simple pivot point at 1.3428 and the 100-hour simple moving average near 1.3430.

If the GBP ends the sideways trading with a decline below the 1.3400 mark against the US Dollar, the currency pair could look for support in the 1.3350 and 1.3300 levels. Further below, note the February low level at 1.3275.

However, a surge above the 1.3430 mark and the technical levels near it, might result in a test of the 1.3500 mark and the resistance zone below it. In addition, take into account the 200-hour simple moving average near 1.3515.
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