GBP/USD finds support in 1.1150

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


The Friday's decline of the GBP/USD pair found support in the 1.1150 level. By the start of Monday's European trading, the rate had recovered to the 1.1300 mark.

A surge of the Pound against the US Dollar is expected to encounter resistance in the 1.1300 and 1.1350 levels, and the last week's high level zone above it. Higher, note the weekly R1 simple pivot point at 1.1398 and the 1.1400 mark.

Meanwhile, a decline of the currency pair would look for support in the 1.1250 and 1.1200 levels. Further below, note the 100 and 200-hour simple moving averages and the weekly simple pivot point near 1.1160.
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