GBP/USD returns to 1.3400

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


Before reaching the 1.3350 mark, the GBP/USD started a recovery. Namely, the pair retraced back up to the combined resistance of the previously passed low level zone at 1.3410/1.3430, the 50-hour simple moving average and the 1.3400 level.

If the GBP/USD resumes its decline, it could look for support in the 1.3350 level. Afterwards, the 1.3300 mark could serve as a support level. If both round exchange rate levels get passed, the pair could look for support in this week's weekly S2 simple pivot point at 1.3268.

However, a potential passing of the resistance zone at 1.3410/1.3430 might result in the rate reaching the 100-hour simple moving average near 1.3475. Above the SMA, the 1.3500 mark could act as resistance.
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