GBP/USD manages to surge

Source: Dukascopy Bank SA


The GBP/USD rate is heading higher, as it found support at 1.2580 and started to move higher.

The ongoing surge could be slowed down by the 1.2675/1.2690 range, before the 1.2700 mark is once again reached. If the 1.2700 does not act as resistance, the rate could surge to the 1.2760/1.2775 zone. Higher above, note the 1.2800 level.

In the meantime, a decline could look for support in the 1.2590/1.2610 range and the 50, 100 and 200-hour simple moving averages. Further below, note the 1.2535/1.2540 support zone. Below all of these levels, the 1.2500 is expected to act as support.
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Tue, 20 Feb 2024 14:01:11 GMT

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