GBP/USD trades near 1.2350 after BoE

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


In the aftermath of the Bank of England rate hike, the GBP/USD rate found support in the 1.2277/1.2325 zone. Namely, the 1.2300 level appears to be acting as psychological support. Meanwhile, resistance is found in the weekly S1 simple pivot point at 1.2372 and 1.2380.

A move below the 1.2277 level could result in the pair looking for support in the 1.2250 and 1.2200 levels.

On the other hand, a potential recovery would have to pass the 1.2800 level, before approaching the resistance zone at 1.2413/1.2423. The zone stopped the rate's attempt to recover in the two hours following the Bank of England caused drop of the Pound.
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