GBP/USD trades in 1.2000/1.2100 range

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


Since December 22, the GBP/USD currency pair has been trading between the support zone above 1.2000 and resistance above 1.2100. Namely, support is found in 1.2000/1.2025 and resistance at 1.2100/1.2125. Meanwhile, the pair has largely ignored the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point.

A move below 1.2000 could look for support in the 1.1950 level and the weekly S1 simple pivot point at 1.1936. Further below, note the 1.1900 and 1.1850 levels.

However, a potential surge above 1.2100/1.2125 might encounter resistance in the 1.2150 level and the weekly R1 simple pivot point at 1.2186.
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