GBP/USD recovers to last week's high

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


On July 14, the GBP/USD rate marked a new low level at 1.1760. Since the event, the pair has been recovering. On July 18, the currency rate had reached back up to the 1.1960/1.1970 zone, which marks the last week's high levels.

A move above the 1.1970 mark could result in the pair testing the resistance of the 1.2000 mark and the weekly R1 simple pivot point at 1.2012. Higher above, note the July 7 and 8 high level zone at 1.2050/1.2055.

Meanwhile, a decline of the GBP against the US Dollar could look for support in the 200-hour simple moving average near 1.1910, the 1.1900 mark, the weekly simple pivot point at 1.1886 and the 50 and 100-hour SMAs near 1.1850/1.1870.
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