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The GBP/USD pair has revealed a support zone at 1.1717/1.1756. The zone captures this week's low levels. In the meantime, on Thursday morning, the rate reached above the resistance of the 100-hour simple moving average and the 1.1850 level.
A continuation of the Pound's recovery against the US Dollar might encounter resistance in the 1.1900 mark, the weekly simple pivot point at 1.1921 and the 200-hour simple moving average. Higher above, note the 1.2000 mark, which had acted as support in early August.
On the other hand, a decline of the currency exchange rate would look for support in the 1.1800 mark, which is strengthened by the 50 and 100-hour simple moving averages. Further below, note the 1.1717/1.1756 zone.
Thu, 25 Aug 2022 08:16:09 GMT
Source: Dukascopy Bank SA
The GBP/USD pair has revealed a support zone at 1.1717/1.1756. The zone captures this week's low levels. In the meantime, on Thursday morning, the rate reached above the resistance of the 100-hour simple moving average and the 1.1850 level.
A continuation of the Pound's recovery against the US Dollar might encounter resistance in the 1.1900 mark, the weekly simple pivot point at 1.1921 and the 200-hour simple moving average. Higher above, note the 1.2000 mark, which had acted as support in early August.
On the other hand, a decline of the currency exchange rate would look for support in the 1.1800 mark, which is strengthened by the 50 and 100-hour simple moving averages. Further below, note the 1.1717/1.1756 zone.