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The GBP/USD broke the resistance zone at 1.1960/1.1970 and the weekly R1 simple pivot point at 1.2012. However, the surge did not reach the 1.2050 mark, as it stopped and reversed near 1.2030. On Tuesday morning, the retracement down found support at 1.1925.
If the Pound declines against the US Dollar, the rate might look for support in the combination of the 50 and 200-hour simple moving averages near 1.1910. Further below, note the 1.1900 level and the weekly simple pivot point at 1.1886.
Meanwhile, a surge of the pair might encounter resistance in the 1.2030, prior to reaching the 1.2050 level.
Tue, 19 Jul 2022 07:29:08 GMT
Source: Dukascopy Bank SA
The GBP/USD broke the resistance zone at 1.1960/1.1970 and the weekly R1 simple pivot point at 1.2012. However, the surge did not reach the 1.2050 mark, as it stopped and reversed near 1.2030. On Tuesday morning, the retracement down found support at 1.1925.
If the Pound declines against the US Dollar, the rate might look for support in the combination of the 50 and 200-hour simple moving averages near 1.1910. Further below, note the 1.1900 level and the weekly simple pivot point at 1.1886.
Meanwhile, a surge of the pair might encounter resistance in the 1.2030, prior to reaching the 1.2050 level.