GBP/USD decline continues

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


On Tuesday morning, the GBP/USD decline consolidated by retracing back up to the combined resistance of the weekly S1 simple pivot point and the 1.2200 mark. Afterwards, the rate resumed its decline, as before mid-day the pair was already back at the weekly S2 simple pivot point at 1.2100.

In general, a passing below 1.2100 could result in the pair reaching the 2019 low level at 1.1960. However, take into account that support might be found in the 1.2000 and 1.2050 levels.

On the other hand, a potential recovery of the Pound against the US Dollar would have to pass the 1.2200 mark, the weekly S1 simple pivot point and the 50-hour simple moving average, before reaching higher levels.
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Tue, 14 Jun 2022 10:51:40 GMT

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