GBP/USD finds support in 1.2460/1.2480

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


The GBP/USD found enough support in the 1.2460/1.2480 zone on Thursday to sharply surge up to the weekly simple pivot point at 1.2588. The pivot point acted as resistance and caused a decline to the 1.2520 level. At mid-day on Friday, the pair was highly volatile between the support of the 50-hour simple moving average near 1.2540 and the resistance of the 100 and 200-hour simple moving averages near 1.2575.

If the Pound surges against the US Dollar above the 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.2588, resistance could be met in the last week's high levels at 1.2660. Higher above, note the 1.2700 mark and the weekly R1 simple pivot point at 1.2706.

Meanwhile, a potential decline of the pair is expected to look for support in the 1.2520 level, the weekly S1 simple pivot point at 1.2510, the 1.2500 mark and the low level zone at 1.2460/1.2480.
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