GBP/USD declines below 1.2350

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


The GBP/USD ended the waiting near 1.2400 mark and declined below 1.2350 on Tuesday morning. By the middle of the day, it appeared that the pair could reach the 1.2300 level.

A move below the 1.2300 level might result in the rate looking for support in the weekly S1 simple pivot point at 1.2290. Further below, take into account the two support and resistance zones, which are close by one to another. 1.2253/1.2263 and 1.2241/1.2246 are expected to act as support.

Meanwhile, a recovery of the Pound against the US Dollar could encounter resistance in the combination of the 50, 100 and 200-hour simple moving average and the weekly simple pivot point at 1.2370. Higher above note the 1.2400 mark.
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Tue, 31 Jan 2023 10:08:00 GMT

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