GBP/USD is kept down at 1.2200

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


The recent surge of the GBP against the US Dollar ahs encountered resistance in the early February high level at 1.2200. Meanwhile, support appears to be found in a an ascending trend line.

A move above the 1.2200 mark might find resistance in various levels. First level is the 1.2250 mark. Secondly, note the February high level at 1.2270. Above these levels, the weekly R2 simple pivot point could slow down the rate, before the 1.2300 mark is reached.

However, a decline of the Pound versus the USD is expected to look for support in the 50-hour simple moving average near 1.2125, prior to reaching the 1.2100 and 1.2050 levels. These levels have acted as support and resistance during the early trading of this week.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.