On Monday, the surge of the GBP/USD reached above the resistance zone that is located below the 1.3600 mark and the 200-hour simple moving average. However, after the surge, the pair retraced back down and up to Tuesday’s European morning the rate traded above the mentioned technical levels.
If the support levels cause a surge, the GBP/USD would most likely reach for the weekly R1 simple pivot point at 1.3714. Although, note that the 1.3650 mark could provide resistance and slow down a potential surge.
On the other hand, a passing of the 200-hour SMA and the support zone below the 1.3600 level would almost immediately find additional support in the weekly simple pivot point at 1.3563 and the 55-hour simple moving average at 1.3560. Below these technical levels, the 100-hour SMA might serve as support at 1.3515.
