During early Thursday’s trading hours, the GBP/USD currency exchange rate traded in the 1.3820/1.3870 range. Meanwhile, the pair ignored the 55, 100, and 200-hour simple moving averages and the weekly simple pivot point at 1.3853.
In the case of a decline, the currency pair would most likely look for support in the 1.3800 marks. If the 1.3800 level’s support fails, the weekly S1 simple pivot point at 1.3796 could immediately attempt to stop the rate’s decline.
Meanwhile, a surge above the 1.3870 level would most likely encounter resistance in the zone that surrounds the 1.3900 marks.
