GBP/USD passes support zone

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


The GBP/USD has passed below the support and resistance zone near 1.2850. The range could soon be confirmed as resistance and a decline of the Pound against the US Dollar might continue.

A continuation of the decline might find support in the 1.2800 and 1.2750 levels. Further below, note the weekly S1 simple pivot point at 1.2736 and the two support and resistance ranges at 1.2720/1.2730 and 1.2685/1.2700.

However, a recovery of the Pound would have to break the 1.2850 level and the 50-hour simple moving average. Above these levels resistance could be encountered in the 100-hour simple moving average, the 1.2900 mark and the weekly simple pivot point at 1.2931.
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