GBP/USD moves higher

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


After the UK PMI caused jump, the GBP/USD consolidated and traded near 1.2530. However, on Friday morning, the pair started to surge, as by mid-day the weekly R1 to simple pivot point's resistance was being tested at 1.2575.

In the case of the Pound surging against the US Dollar above the weekly R1 at 1.2575, the rate could be slowed down by 1.2600 and 1.2650, before the pair reaches the combination of the 1.2700 mark and the weekly R2 at 1.2696.

On the other hand, a decline of the currency exchange rate could look for support in the 50 and 100-hour simple moving averages near 1.2520. Further below note the 1.2505/1.2510 range that has acted as support and resistance.
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Fri, 24 Nov 2023 12:59:52 GMT

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