GBP/USD moves below 200-hour SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At mid-day on Wednesday, the GBP/USD currency pair passed below the support of the 200-hour simple moving average. The event indicated that the pair could reach new low levels. However, support was almost immediately found in the 1.2560 mark.

If the Pound declines against the US Dollar below the 1.2560 mark, the currency exchange rate might look for support in the weekly S1 simple pivot point at 1.2510 and the 1.2500 mark.

On the other hand, a recovery of the currency exchange rate could find resistance in the 200-hour SMA near 1.2580, the weekly simple pivot point at 1.2588. Higher above, note the 1.2600 level and the combination of the 50 and 100-hour simple moving average near 1.2610.
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Wed, 01 Jun 2022 12:37:45 GMT

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