GBP/USD remains below 1.2500

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Source: Dukascopy Bank SA


The GBP/USD has revealed a support and a resistance zones. Support is found at 1.2390/1.2395. Resistance is provided by the 1.2470/1.2480 range. On Monday, the pair bounced off the resistance and resumed its decline.

The ongoing decline might look for support in the 1.2390/1.2395 level. Further below, note the weekly S1 simple pivot point at 1.2373 and the combination of the weekly S2 at 1.2304 and the 1.2300 mark.

However, a potential recovery of the GBP against the US Dollar would face the 1.2470/1.2480 range. Note that the pair has ignored the hourly simple moving averages and the weekly simple pivot point at 1.2459.
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