HomeContributorsTechnical AnalysisGBP/USD Raised To 1.3040

GBP/USD Raised To 1.3040

Yesterday, the GBP/USD exchange rate jumped to the 1.3140 level. During Thursday morning, the rate was trading at the given level.

On the one hand, the British Pound could trade upwards against the US Dollar within the following trading session. In this case the exchange rate could reach the resistance level formed by the Fibo 50.00% and the weekly R2 at 1.3196.

On the other hand, the exchange rate could reverse south in the nearest future. In this case it is unlikely that the rate could decline below 1.3029/1.3083 range due to the support cluster formed by the 55-, 100– and 200-hour SMAs.

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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