GBP/USD trades below 1.2100

Source: Dukascopy Bank SA


The GBP/USD pair has managed to recover, as on Wednesday it was encountering resistance in the weekly simple pivot point at 1.2089. Meanwhile, support was found in the 1.2000/1.2025 zone.

A move above the 1.2089 level is expected to encounter resistance in the 1.2100/1.2125 zone. A move above 1.2125 could encounter resistance in 1.2150 and the weekly R1 simple pivot point at 1.2186.

However, a decline below 1.2000/1.20025 might find support in the 1.1950 level, the weekly S1 simple pivot point at 1.1936, before reaching the Tuesday's support at 1.1900.
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