GBP/USD is back below 1.3100

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


The recovery of the GBP/USD was ended by the release of the US monthly employment data. The data shook the value of the US Dollar down and up, before a clear strengthening. On the GBP/USD charts, it was represented by high volatility near the 1.3200 level. However, the follow-up decline eventually passed below the 1.3100 mark, which turned into resistance.

An extension of the decline might look for support in the weekly S1 simple pivot point at 1.3063. Immediately below this level, there is a support and resistance zone that surrounds the 1.3050 level. Further below, note the strong 1.3000 mark that is strengthened by the weekly S2 simple pivot point.

In the meantime, a potential recovery of the Pound against the US Dollar might encounter resistance in the 1.3100 mark, before approaching the combination of the 50, 100 and 200-hour simple moving averages. In addition, the 1.3120/1.3130 zone might resume its impacting on the pair. If these levels fail, the 1.3150 level and the weekly simple pivot point could impact the pair.
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