GBP/USD breaks resistance levels

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


The GBP/USD currency pair has surged on Wednesday morning. The pair broke the weekly R1 at 1.2288 and soon after easily passed the 1.2300 mark and the weekly R2 simple pivot point at 1.2353.

A continuation of the surge could encounter resistance in the 1.2400 and 1.2450 levels, prior to testing the weekly R3 simple pivot point at 1.2457. Note that the steeper a pair's surge occurs, the more likely it can get overextended and a resistance level can stop it.

Meanwhile, a potential decline of the rate might look for support in the previously passed resistance levels at 1.2350, 1.2300 and 1.2288.
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