GBP/USD remains above 1.2100

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Source: Dukascopy Bank SA


The currency exchanger ate has respected the support of the 1.2100 mark and the zone that surrounds its. The events have resulted in a recovery of the Pound against the US Dollar. At mid-day on on Monday, the rate was testing the resistance of the weekly simple pivot point at 1.2159.

A move above 1.2159 could be slowed down by the 1.2180 level that has acted as resistance on October 25. Higher above, note that the 1.2220 level has shown itself as resistance and support.

In the case of a decline of the currency pair, the pair could look for support in the 200-hour simple moving average near 1.2150 and the combination of the 50 and 100-hour SMAs near 1.2125. Further below, the 1.2100 could once again act as support.
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