By the middle of Tuesday’s European trading hours, the GBP/USD had managed to pass the resistance of the 1.3870 level and reach the 1.3900 mark. The 1.3900 level paused the rate’s surge.
In the case of the rate passing the resistance of the 1.3900 mark, the pair would face the 200-hour simple moving average at the 1.3930 level and afterwards the weekly R1 simple pivot point at 1.3982. On the other hand, if the resistance holds, the pair could look for support in the 55-hour SMA near 1.3835.
