GBP/USD is pushed up by moving average

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


Since mid-Thursday, the GBP/USD has been pushed up by the support of the 50-hour simple moving average. During the push upwards, the rate appears to have encountered resistance near 1.2650/1.2660.

In the near term future, the GBP/USD could be pushed through the resistance of the 1.2660 mark by the 50-hour simple moving average. A move higher is expected to encounter some resistance in the 1.2700 mark and the weekly R1 simple pivot point at 1.2706.

On the other hand, a decline of the rate below the 50-hour simple moving averages and the 1.2600 level could find support in the weekly simple pivot point at 1.2588 and the 100-hour simple moving average near 1.2580. Further below, note the 1.2550 level and the approaching 200-hour SMA.
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