GBP/USD reaches below 1.3100

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


At mid-day on Monday, the GBP/USD currency exchange rate once again reached below the 1.3100 level. In the meantime, it appeared that the pair was ignoring the support and resistance of the weekly simple pivot point at 1.3113 and the 50 and 100-hour simple moving averages at 1.3125.

In the near term future, a potential decline of the Pound against the US Dollar would most likely look for support in the last week's low level zone at 1.3052/1.3071. Below the zone, the 1.3050 mark and the weekly S1 simple pivot point might slow down a decline, before it reaches the 1.3000 level.

However, a recovery of the British currency, compared to the USD, is slightly likely set to encounter resistance in the form of the 50 and 100-hour simple moving averages near 1.3125. Higher above, take into account the trend line, which connects the recent high levels of the pair and the 200-hour simple moving average near 1.3145.
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