GBP/USD faces resistance above 1.2720

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Source: Dukascopy Bank SA


The GBP/USD trades below a resistance zone at 1.2720. Meanwhile, support appears to be provided by the 1.2660 level.

A move above 1.2720 resistance range could be slowed down by the 1.2760 level or the weekly R1 simple pivot point at 1.2769, before the pair reaches 1.2800.

On the other hand, a decline of the Pound against the US Dollar would have to pass below the 1.2660 level and the 50-hour simple moving average. Further below note the support range at 1.2590/1.2610 and the weekly S1 simple pivot point at 1.2601.
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