GBP/USD trades below 1.2000

Source: Dukascopy Bank SA


On Tuesday, the GBP/USD bounced off the resistance of the 1.2050 level and declined below 1.2000. The rate is heading to new lower low levels.

Support could be found in the 1.1950 level, the weekly S1 simple pivot point at 1.1928 and the round levels 1.1900 and 1.1850.

Meanwhile, a potential recovery of the Pound against the US Dollar could encounter resistance at 1.2000 and the combination of the 50-hour simple moving average and the 1.2050 level. Higher above, take into account the 1.2100 and 1.2150 levels.
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Tue, 07 Feb 2023 11:51:30 GMT

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