GBP/USD reaches above 1.2600

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


The GBP/USD currency exchange rate has continued to benefit from the broader weakness of the US Dollar. Most recently, the pair managed to reach above the 1.2600 mark.

The rate could confirm the 1.2600 level as support and start a surge. A potential surge is expected to encounter resistance in the weekly R1 simple pivot point at 1.2663, before the 1.2700 mark would be reached.

In the meantime, a decline of the Pound against the US Dollar is set to look for support in the 1.2560/1.2570 range, the weekly simple pivot point at 1.2554 and the 50 and 100-hour simple moving averages. If all of these levels fail, the rate might reach the combination of the 1.2500 mark, the 200-hour simple moving average and the weekly S1 at 1.2493.
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