GBP/USD bounces off December low levels

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


The GBP/USD currency exchange rate was recovering on Monday, as the pair found support in the December low level zone at 1.3162/1.3175. By the middle of Monday's trading, the rate had reached the resistance of the 200-hour simple moving average at 1.3240.

If the GBP/USD continues to surge, it might find resistance at the 1.3265 level, where the weekly simple pivot point was located together with the 100-hour simple moving average. Above these levels, at 1.3280 the 50-hour simple moving average might stop a surge.

Meanwhile, a decline of the rate would most likely once again look for support in the December low level zone at 1.3162/1.3175, before aiming at the weekly S1 simple pivot point at 1.3155.
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