GBP/USD manages to recover above 1.1800

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


At mid-day on Tuesday, weakness of the US Dollar caused a surge of the GBP/USD currency exchange rate. The rate shortly traded above the 1.1850 mark, before declining. On Wednesday morning, the pair found support in the 50-hour simple moving average and the 1.1800 mark.

In regards to the near term future, a decline of the pair below 1.1800 could look for support in the 1.1750 level and the Tuesday's low level at 1.1720. Further below, note the 1.1700 mark and the weekly S1 simple pivot point at 1.1693.

On the other hand, a recovery of the Pound against the US Dollar would have to pass the resistance of the 100-hour simple moving average and the 1.1850 mark, before approaching the 1.1900 level and the weekly simple pivot point at 1.1921.
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