GBP/USD finds support at 1.1550

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


In general, the GBP/USD encountered resistance in the weekly R2 simple pivot point at 1.1644. A decline followed, and at mid-day on Thursday, the 1.1550 level provided support and a surge started. At the time of writing, 14:30 GMT, the rate was heading to once again test the weekly R2 at 1.1644 and the 1.1650 level.

A move above 1.1650 is expected to encounter resistance in the 1.1700, 1.1750 and 1.1800 levels, before reaching the weekly R3 simple pivot point at 1.1849 and the 1.1850 mark.

However, a decline of the Pound against the US Dollar is expected to look for support in the combination of the 1.1550 level, the lower trend line of the channel up pattern and the 50-hour simple moving average. Further below, note the 1.1500 mark and the weekly R1 simple pivot point at 1.1470.
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Thu, 27 Oct 2022 14:50:37 GMT

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