HomeContributorsTechnical AnalysisGBP/USD Might Fall To 1.3100

GBP/USD Might Fall To 1.3100

During Friday’s trading session, the British Pound appreciated against the US Dollar by 196 base points or 1.51%, breaking most of the technical indicators. On Monday morning, the rate was located between the 200-hour and the 100-hour simple moving averages at the 1.3197 mark.

In regards to the near-term future, most likely, the resistance level of the 200-hour simple moving average will retrace the currency exchange rate to depreciate to the 1.3100 level.

On the other hand, the technical indicators could support the rate to break the resistance level of the 200-hour simple moving average to end the trading session at the 1.3250 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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