GBP/USD Tests Monthly High Level

On Monday morning, the GBP/USD currency exchange rate was testing the resistance of the August high level and the 1.3780 mark. In the meantime, the most close by technical support levels were located near the 1.3735 level.

If the pair passes the resistance of the August high levels and the 1.3780 level, the 1.3800 could provide resistance. Above the 1.3800 mark, the weekly R1 simple pivot point at 1.3826 could keep the rate down.

A potential decline of the Pound against the US Dollar would most likely look for support in the 55 and 100-hour simple moving averages near 1.3735. Below these two levels, the currency exchange rate might find additional support in the 1.3720 level, where the weekly simple pivot point is located at.

August 30, 2021 at 11:11PM
Dukascopy Swiss FX Group
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