GBP/USD recovery encounters resistance

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


Since encountering resistance in the form of the 1.0900 level up to mid-Tuesday, the GBP/USD pair had confirmed the weekly S1 simple pivot point at 1.0637 as support and recovered to the combined resistance of the 1.0800 level and the 50-hour simple moving average.

A move above 1.0800 is expected to once again find resistance in the 1.0900 level. Higher above, the 1.1000 mark could slow down a recovery, before the pair reaches the combination of the 1.1050 level, the weekly simple pivot point at 1.1049 and the 100-hour simple moving average.

Meanwhile, a decline of the Pound against the US Dollar below the weekly S1 simple pivot point at 1.0637. Further below, the 1.0600 and 1.0500 levels are expected to act as support.
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Tue, 27 Sep 2022 09:42:37 GMT

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