GBP/USD aims at resistance zone

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


The US Dollar has recently declined against all other currencies and assets. On the GBP/USD chart is has resulted in a surge, which at mid-day on Friday was approaching the resistance zone at 1.2590/1.2600. The resistance zone marked the Tuesday and Wednesday high levels. In addition, the 100-hour simple moving average had reached the zone from above.

A surge above the 1.2600 mark by the GBP against the US Dollar could encounter resistance in the weekly S2 simple pivot point at 1.2648 and the 1.2650 mark. Higher above, note the 1.2700 mark and the weekly S1 simple pivot point at 1.2741.

Meanwhile, a resumption of the decline of the Pound, compared to the USD, might look for support in the 1.2500 mark and the 50-hour simple moving average. Below the 1.2500 mark, take into account the weekly S3 simple pivot point at 1.2473, the 1.2450 level and the Thursday's low levels at 1.2410/1.2425.
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