HomeContributorsTechnical AnalysisGBP/USD Struggles With 1.3100 Level

GBP/USD Struggles With 1.3100 Level

The GBP/USD pair is struggling to pass the resistance of the 1.3100 level. The round mark was providing a psychological resistance to the rates surge.

If this level gets passed due to any reason then the pair should aim at the weekly R1, which is located at the 1.3149 level. It could occur, as the 55 and 100-hour simple moving averages approach the rate and push it higher.

On the other hand note that the pair might fail at the attempts of surging and remain in the range between the SMAs at 1.3050 and the 1.3100 level.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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