GBP/USD ignores technical levels

Source: Dukascopy Bank SA


Since finding support in the zone near 1.2100 mark during early Monday's trading, the GBP/USD has been ignoring technical levels. Namely, no support and resistance is being found in the 50 and 100-hour simple moving averages, the weekly simple pivot point at 1.2133 and the round exchange rate levels of 1.2100 and 1.2150.

On Tuesday morning, the rate appeared to have started a decline, as the rate reached below Monday's trading levels. If the decline continues, the rate might once again reach the low level zone below 1.2000.

On the other hand, if the Pound recovers against the US Dollar, watch out for the recently ignored technical levels, as they might after all impact the rate, prior to a surge to the 1.2200 mark.
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