GBP/USD reaches above 1.2325

Source: Dukascopy Bank SA


Despite being highly volatile, the GBP/USD currency pair continues to move higher. On Tuesday, the pair was piercing the weekly R1 simple pivot point at 1.2325.

The resistance zone at 1.2335/1.2343 could reverse the ongoing surge. Higher above, note the 1.2400 level and the weekly R2 simple pivot point at 1.2423.

Meanwhile, a potential decline of the currency pair could look for support in the combination of the 50 and 100-hour simple moving averages near 1.2270. Afterwards, the weekly simple pivot point at 1.2246 might act as support with the 1.2240 level. Further below, note the 200-hour simple moving average and the 1.2200 mark.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.