GBP/USD remains above 1.2700

Source: Dukascopy Bank SA


The GBP/USD is finding support in the 1.2685/1.2700 range. Meanwhile, it was observed on Monday that resistance was encountered in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2746.

A move above 1.2750 could encounter resistance in the 1.2800 mark and the weekly R1 simple pivot point at 1.2806. Above these levels, note the 1.2840/1.2850 zone.

However, in the case of a GBP decline against the US Dollar the 1.2685/1.2700 range is set to act as support, before the pair approaches the weekly S1 at 1.2652.
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