GBP/USD passes below December low

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Source: Dukascopy Bank SA


Prior to mid-day on Monday, the GBP/USD currency exchange rate passed below the December low level zone at 1.3162/1.3175. However, support appeared to have been almost immediately found in the 1.3150 mark.

A recovery of the Pound against the US Dollar could find resistance in the 1.3250 mark, which acted as resistance on Friday. Higher above, note the 1.3275 level, the 50-hour simple moving average and the weekly simple pivot point at 1.3284.

On the other hand, a decline below 1.3150 might find support in the weekly S1 simple pivot point at 1.3131. Below the pivot point, the 1.3100 level could stop a depreciation of the Pound against the USD, before the weekly S2 simple pivot point at 1.3049 and the 1.3050 are reached.
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