GBP/USD consolidated around 1.2200

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Source: Dukascopy Bank SA


Since the middle of Thursday's trading hours, the GBP/USD had been trading between the support of the 1.2155/1.2165 zone and resistance at 1.2250/1.2255. During late Friday's trading, the pair was testing the resistance zone.

A bounce off from the resistance might look for support in the 50-hour simple moving average and the 1.2200 level, prior to reaching the 1.2155/1.2165 zone. Below the support zone, the 1.2100 mark might stop a potential decline.

Meanwhile, a surge above 1.2250/1.2255 could encounter resistance in the 2020 July low level at 1.2260 and the 100-hour simple moving average.
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