The GBP/USD failed to reach the 1.4000 mark. On Thursday, the rate bounced off the resistance of the 1.3983 level. On Friday morning, the rate appeared to be retracing down and looking for support.
The currency exchange rate could find support in the 55-hour simple moving average near 1.3920 and the weekly R2 simple pivot point at 1.3919. In addition, support could be provided by the previous July high zone above the 1.3900 mark.
Meanwhile, take into account that a potential resumption of the surge would most likely encounter resistance, as it approaches the 1.4000 mark. Above the 1.4000, the pair could find resistance at 1.4050, which is strengthened by the weekly R3 simple pivot point.
