GBP/USD traded below 1.1940

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


On Wednesday, the GBP/USD reacted to fundamentals. In general, the pair initially reached below the 1.1940/1.1960 zone, before finding support in the 1.1900 mark. Afterwards, comments made by the head of the US Federal Reserve caused a surge of the pair, as the USD lost value. By the middle of Thursday's trading hours, the pair had reached above 1.2100.

An extension of the ongoing surge, might encounter resistance in the 1.2150 and 1.2200 levels, prior to testing the resistance of the weekly R1 simple pivot point at 1.2234.

Meanwhile, a potential decline might find support also in round exchange rate levels. Namely, the 1.2100 and 1.2050 could act as support. Below these levels, take into account the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near the 1.2000 mark.
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