The situation on the GBP/USD chart has remained unchanged. The pair remains between the resistance of the 50 and 100-hour simple moving averages near 1.3210 and 1.3230 and the weekly S1 simple pivot point at 1.3167.
The GBP/USD rate would most likely decline, if it passes the support of the weekly S1 simple pivot point. A move below the pivot point would have no support as low as the 1.3100 mark and the weekly S2 at 1.3093.
Above the two SMAs, next close by resistance was the weekly simple pivot point at 1.3269, the 200-hour SMA at 1.3260 and this week’s high levels above 1.3280.
Written by Admin
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