GBP/USD respects moving averages

Source: Dukascopy Bank SA


It has been spotted that since late Friday's trading, the GBP/USD currency pair has been finding support in the 50 and 100-hour simple moving averages. Meanwhile, on Wednesday the 200-hour SMA caught up to the pair from below.

In the case of the moving averages pushing the rate up, it could encounter resistance in the 1.2780/1.2795 range, the 1.2800 mark and the weekly R1 simple pivot point at 1.2812. Higher above, note the August high level at 1.2819.

However, if the Pound declined against the US Dollar below the moving averages, the weekly simple pivot point could act as support at 1.2656. Below the pivot point, the 1.2590/1.2610 range could once again impact the rate.
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Wed, 27 Dec 2023 11:28:06 GMT

USD/JPY could be pushed up

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