GBP/USD finds support in SMA

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


Most recently, the GBP/USD has been fluctuating around the 1.3200 mark. Meanwhile, the pair was by large ignoring the 50 and 100-hour simple moving averages and a March resistance and support zone at 1.3195/1.3210.

On Friday morning, the pair declined to the 200-hour simple moving average near 1.3160. Form that level a recovery back up to the 1.3200 level occurred. However, note that the 1.3160 level acted as support on its own on Thursday.

If the currency exchange rate declines, it would highly likely find support in the 1.3160 mark and the 200-hour simple moving average. Further below, note the support zone at 1.3110/1.3130.

On the other hand, a recovery of the Pound against the US Dollar would first have to pass the 1.3200 mark, before approaching the 1.3220 level and the weekly R1 simple pivot point at 1.3248.
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