The GBP/USD pierced the support of the June low levels and shortly traded near the 1.4040 level. Afterwards, the pair returned to trade near the 1.4080 level. On Wednesday morning, the rate began a surge, which reached above the 1.4100 level.
In the near term future, the rate could test the combined resistance of the 100 and 200-hour simple moving averages and the weekly simple pivot point from 1.4115 to 1.4132. If these levels are broken, the weekly R1 simple pivot point at 1.4179 might be reached.
On the other hand, a potential bounce off from the 1.4115/1.4132 zone would find support in the 55-hour SMA and the 1.4100 mark before reaching the previous June low level zone and the weekly S1 simple pivot point at 1.4062.
