GBP/USD returns back below 1.2500

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Source: Dukascopy Bank SA


The GBP/USD has passed below the support levels near 1.2500. By mid-Tuesday, the rate had touched the 1.2460 level.

An extension of the ongoing decline might find support in the weekly S1 simple pivot point at 1.2437. Further below, note the support zones at 1.2387/1.2390 and 1.2345/1.2350.

On the other hand, a recovery of the pair is set to face the combined resistance of the 1.2500 mark, the 50 and 100-hour simple moving averages and the weekly simple pivot point at 1.2510. Higher above, the 1.2560 and 1.2580 levels are expected to act as resistance.
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Tue, 02 May 2023 12:45:31 GMT

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