GBP/USD remains near 1.2700

Source: Dukascopy Bank SA


In general, the GBP/USD is waiting for fundamental data. The US Consumer Price Index release will set the market course on Thursday at 13:30 GMT. However, note close by technical levels.

A decline below the moving averages and the 1.2700 mark could eventually reach the weekly S1 simple pivot point at 1.2610 and the support range at 1.2590/1.2610. Note that the range has held on for almost a month. Meanwhile, the 1.2700 mark, pivot points and moving averages have been mostly ignored.

However, a resumption of the surge of the Pound against the US Dollar is set to face the 1.2760 level and afterwards the range at 1.2780/1.2790, before testing the 1.2800 mark.
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Wed, 10 Jan 2024 14:04:56 GMT

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