Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD
On Tuesday, the GBP/USD exchange rate dropped below the weekly S2 at 1.3007.
From the one hand, it is likely that some downside potential could continue to prevail in the market. In this case the currency pair could face the support level formed by the weekly S3 and the monthly S2 at 1.2835.
Meanwhile, it is unlikely that bulls could prevail in the market in the nearest future, and the exchange rate could exceed the 1.3100 area due to the resistance formed by the weekly and monthly S1s, as well the 55-hour SMA.
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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