GBP/USD decline finds support at 1.3250

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


All the previously described support levels eventually failed, despite holding for a couple of hours. Eventually, by mid-Wednesday it was observed that the pair had found support in the 1.3250 level. The level had caused a recovery that was testing the resistance of the 1.3300 mark.

If the pair breaks above 1.3300, it is set to face the combined resistance of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.3351. These levels have to be broken, before the rate approaches the 1.3400 mark and the high level range at 1.3425/1.3435.

In the case of a decline, the rate will look for support in the weekly S1 at 1.3268 and the 1.3250 level. Further below, the rate is set to look for support in the 1.3220/1.3230 level, prior to reaching 1.3200.
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