GBP/USD bounces off 1.1375

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


The GBP/USD currency exchange rate eventually surged after the US CPI release. The surge found resistance in the 1.1350/1.1375 zone, before starting a decline on Friday's morning.

An extension of the ongoing decline could look for support in the combination of the weekly simple pivot point at 1.1215, the 1.1200 mark, the 50 and 200-hour simple moving averages and the October high levels at 1.1175/1.1180. Further below, take into account the 1.1150 level and the 100-hour simple moving average.

However, a recovery of the Pound against the US Dollar would have to pass the 1.1350/1.1375 zone and the weekly R1 simple pivot point at 1.1374. Higher above, there is no technical resistance. Round exchange rate levels might act as resistance.
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Fri, 14 Oct 2022 11:45:57 GMT

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