GBP/USD finds support in 1.1800

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Source: Dukascopy Bank SA


The 1.1950 eventually provided enough resistance for the GBP/USD pair to decline. On Monday, the pair was finding support in the 1.1800 mark.

In the case of a move below 1.1800, the currency pair might look for support in the 200-hour simple moving average near 1.1760. Further below, note the 1.1750 level and the weekly S1 simple pivot point at 1.1723.

However, a recovery of the Pound against the US Dollar would most likely face resistance at 1.1850 and the combination of the 50 and 100-hour simple moving averages and the weekly simple pivot point at 1.1875. Higher above, note the 1.1900 and 1.1950 levels.
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