GBP/USD remains above support zone

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Source: Dukascopy Bank SA


The 1.1940/1.1960 zone has continued to hold and the GBP/USD remains near the 1.2000 level. Meanwhile, the 50 and 200-hour simple moving averages have revealed that they are not impacting the currency exchange rate.

If the Pound recovers against the US Dollar, it would have to break the resistance of the 1.2050 level and the 100-hour simple moving average. Higher above, note that the 1.2100 and 1.2150 levels have acted as resistance.

On the other hand, a decline of the GBP/USD might once again look for the support in the 1.1940/1.1960 zone. Further below, note the 1.1900 mark, the weekly S1 simple pivot point at 1.1869 and the 1.1850 level.
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