GBP/USD decline continues

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


The decline of the Pound against the US Dollar has continued, as on Thursday morning the pair approached the 1.1150 level and the weekly simple pivot point at 1.1160.

A move below 1.1150 would have no technical support as low as the weekly S1 simple pivot point at 1.0941 and the October low levels at 1.0922/1.0932. However, note that the pair could find support in the round levels at 1.1100, 1.1050, 1.1000.

On the other hand, a recovery of the Pound against the US Dollar could encounter resistance in the 1.1250 level and the 50 and 100-hour simple moving averages. Higher above, note 1.1300 and 1.1350 levels.
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Thu, 20 Oct 2022 10:08:34 GMT

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