GBP/USD finds support in 1.2500

Source: Dukascopy Bank SA


Despite piercing resistance zone above 1.2660, the GBP/USD declined after the week's fundamental events. Eventually, the decline found support in 1.2500 and was observed to be recovering. At mid-Friday, the pair appeared to be encountering resistance in 1.2540.

A move above 1.2540 is expected to face resistance in the weekly simple pivot point at 1.2571, the 50, 100 and 200-hour simple moving averages. Higher above, note that the pair could be impacted by the 1.2650/1.2670 range.

However, a decline of the Pound against the US Dollar is going to look for support in the 1.2500 mark and the weekly S1 simple pivot point at 1.2489. Further below, note the 1.2400 mark and the weekly S2 at 1.2354.
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