GBP/USD retraces back below 1.2600

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


The Pound has made three attempts to move above 1.2720. All of these attempts failed. This week, the rate appeared to have started a decline, as on Wednesday it moved below 1.2600.

If the Pound continues to decline against the US Dollar, it is set to look for support in the 1.2580 and 1.2560 levels. These round levels have shown to be capable at acting as both resistance and support. Further below, note the weekly S2 simple pivot point at 1.2533.

However, a potential recovery of the currency exchange rate is expected to face the resistance of the weekly S1 simple pivot point at 1.2619 and the 50, 100 and 200-hour simple moving averages in the 1.2615/1.2640 range. Above the moving averages note the weekly simple pivot point at 1.2676.
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Wed, 06 Dec 2023 13:42:19 GMT

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