GBP/USD is back at 1.2500

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Source: Dukascopy Bank SA


A broad decline of the US Dollar's value has resulted on the GBP/USD charts in a surge up to the 1.2500 mark. The 1.2500 level appeared to be acting as resistance at mid-day on Tuesday.

If the Pound continues to recover against the Dollar, the pair would have to pass the resistance of the 1.2500 level. Higher above, note the weekly R2 simple pivot point at 1.2524. Afterwards, note the resistance zone, which surrounds the 1.2600 mark.

Meanwhile, a resumption of the broad decline of the GBP/USD would first look for support in the 1.2400/1.2424 zone and the weekly R1 simple pivot point at 1.2391. Below these levels, the 1.2350 might support the currency rate.
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Tue, 17 May 2022 13:25:15 GMT

USD/JPY tests resistance zone

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Tue, 17 May 2022 13:03:55 GMT

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