GBP/USD respects round levels

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


The GBP/USD declined on Friday and the move extended on Monday. It has been observed that resistance is found in the 1.2700 mark. Support is provided by the weekly simple pivot point at 1.2656, the 1.2650 level and the 100-hour simple moving average close below these levels.

An extension of the ongoing decline could look for support in the 200-hour simple moving average and the 1.2590/1.2610 range. If the currency rate reached below the support and resistance zone it might be slowed down by the 1.2550 level, before the rate reaches the weekly S1 simple pivot point at 1.2518 and the 1.2500/1.2515 low level zone.

In the meantime, a potential Pound's recovery against the US Dollar would have to break the 1.2700 mark, prior to testing the combination of the 50-hour simple moving average and the 1.2720/1.2730 range. Above these levels, the last week high level range is set to act as resistance at 1.2780/1.2795
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