GBP/USD finds support near 1.1950

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


The GBP/USD currency pair has found support in the zone near 1.1950. This zone has acted as support and resistance since November 16.

If the Pound recovers against the US Dollar, it would have to break the combined resistance of the 1.2050 level and the 50 and 100-hour simple moving averages. Higher above, note that the 1.2100 and 1.2150 levels have acted as resistance.

On the other hand, a decline of the GBP/USD might once again look for the support in the 1.1940/1.1960 zone and the 200-hour simple moving average. Further below, note the 1.1900 mark, the weekly S1 simple pivot point at 1.1869 and the 1.1850 level.
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