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The recovery of the Pound of the US Dollar continues. On Monday, the pair reached the 1.1700 level and the weekly R1 simple pivot point.
A move above 1.1700 would most likely encounter resistance in the 1.1715/1.1760 zone. Higher above, take into account the weekly R2 simple pivot point at 1.1790 and the 1.1800 mark. Afterwards, the 1.1850 and 1.1900 could slow down a surge, prior to the rate reaching the weekly R3 at 1.1932.
On the other hand, a decline of the currency pair would look for support in 1.1650 and 1.1600, before reaching the weekly simple pivot point together with the 50, 100 and 200-hour simple moving averages. Further below, the 1.1500 level could act as support, before the 1.1450 level and the weekly S1 simple pivot point are reached.
Mon, 12 Sep 2022 08:17:24 GMT
Source: Dukascopy Bank SA
The recovery of the Pound of the US Dollar continues. On Monday, the pair reached the 1.1700 level and the weekly R1 simple pivot point.
A move above 1.1700 would most likely encounter resistance in the 1.1715/1.1760 zone. Higher above, take into account the weekly R2 simple pivot point at 1.1790 and the 1.1800 mark. Afterwards, the 1.1850 and 1.1900 could slow down a surge, prior to the rate reaching the weekly R3 at 1.1932.
On the other hand, a decline of the currency pair would look for support in 1.1650 and 1.1600, before reaching the weekly simple pivot point together with the 50, 100 and 200-hour simple moving averages. Further below, the 1.1500 level could act as support, before the 1.1450 level and the weekly S1 simple pivot point are reached.