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At mid-day on Friday, the GBP/USD broke the week's channel up pattern by passing below the lower trend line of the channel near 1.3120.
If the pair continues to decline, support might be found in the 1.3100 mark and the weekly S1 simple pivot point at 1.3097. Further below, take into account the support zone at 1.3053/1.3070.
Meanwhile, a surge would have to pass the 100-hour simple moving average at 1.3120, the 50-hour SMA at 1.3140 and the 200-hour SMA at 1.3160, before approaching the weekly simple pivot point at 1.3198 and the 1.3200 mark.
Fri, 01 Apr 2022 12:59:48 GMT
Source: Dukascopy Bank SA
At mid-day on Friday, the GBP/USD broke the week's channel up pattern by passing below the lower trend line of the channel near 1.3120.
If the pair continues to decline, support might be found in the 1.3100 mark and the weekly S1 simple pivot point at 1.3097. Further below, take into account the support zone at 1.3053/1.3070.
Meanwhile, a surge would have to pass the 100-hour simple moving average at 1.3120, the 50-hour SMA at 1.3140 and the 200-hour SMA at 1.3160, before approaching the weekly simple pivot point at 1.3198 and the 1.3200 mark.