GBP/USD books new high

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The surge of the GBP/USD has continued due to the prior momentum. On Wednesday, the lower than expected US CPI boosted the move. In the near term future, the pair could approach the 1.2700 mark.

A move above 1.2700 is expected to be slowed down by the combination of the weekly R3 simple pivot point at 1.2745 and the 1.2750 level. Higher above, note the 1.2800 mark.

In the case of a decline of the Pound against the US Dollar, the rate will look for support in the 1.2620 level, before reaching the combination of the 1.2600 mark and the weekly R1 at 1.2597.
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