GBP/USD returns to 1.1000

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


The 1.1500 resistance was enough to cause a broad decline of the GBP/USD. By 09:00 GMT on Monday, the pair had reached below 1.1050 and was heading to the 1.1000 level.

A move below 1.1000 could find support in the 1.0950 level, the weekly S1 simple pivot point at 1.0934. Below these levels note the 1.0900 mark and the lower trend line of the channel down pattern, which captures the pair's decline from the 1.1500 mark.

However, a recovery of the Pound against the US Dollar would have to break above 1.1050 and the combination of the 1.1100 mark and the upper trend line of the channel pattern. Higher above, take into account the 1.1100 mark and the 50 and 200-hour simple moving averages.
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