The GBP/USD has once again bounced off the resistance of the 1.4000 mark. The rate appears to be trading flat this week between the 1.3850 and 1.4000 level. In the meantime, the 100-hour simple moving average approached the rate and failed to provide any impact on it.
In the near term future, the rate is expected to reach for the support of the zone that surrounds the 1.3850 mark. If this zone gets passed, the rate could aim at the weekly S1 simple pivot point at 1.3804.
On the other hand, if the 1.3850 zone holds again, the pair could test the resistance of the 1.4000 for another time.
