On Monday, the GBP/;USD traded below the 1.4200 mark, which provided resistance. In the meantime, support was being provided by the 100 and 200-hour simple moving averages near 1.4160.
In the case of the rate surging, it would once again test the resistance of the 1.4200 mark. A passing of this level would encounter resistance in the zone above the 1.4220 level.
On the other hand, a failure of the 100 and 200-hour SMAs to provide support could result in a decline to the weekly S1 simple pivot point at 1.4119.
