During the early hours of this week’s trading, the GBP/USD currency exchange rate bounced off the resistance of a zone that surround the 1.3900 level. By the middle of Monday’s trading, the rate was expected to look for support near the 1.3850 level.
Near the 1.3850 level, the rate could find support in the weekly simple pivot point at 1.3853 and the last week’s significant zone near 1.3840. If these levels would be passed, the pair could reach the combined support of the 55, 100 and 200-hour simple moving averages near 1.3820.
Meanwhile, a potential surge would once again test the resistance of the zone near 1.3900 before reaching the weekly R1 simple pivot point at 1.3963.
