GBP/USD stands near 1.2300

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


The Monday's decline of the GBP against the US Dollar found support in the 100-hour simple moving average near 1.2220. Afterwards, the rate found resistance in the 1.2300 mark. During the first half of Tuesday's trading, the pair remained below the 1.2300 level.

A surge above 1.2300 could encounter resistance in the Friday's high level at 1.2320, before approaching the weekly R1 simple pivot point at 1.2371.

On the other hand, a decline would look for support in the combination of the weekly simple pivot point at 1.2238 and the 100 and 200-hour simple moving averages near 1.2230. Further below, the 1.2200 mark might act as support.
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