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On Thursday, the GBP/USD pair found support in the weekly simple pivot point at 1.2162 and surged to the 1.2250 level.
In the case of the pair moving above 1.2250, the 1.2300 and 1.2350 levels are highly likely to act as resistance, as they stopped the last week's surge.
However, a decline of the Pound against the US Dollar might be slowed down by the 50 and 100-hour simple moving averages at 1.2180 and 1.2200, before reaching the weekly simple pivot point at 1.2162. In addition, the 200-hour simple moving average and the 1.2150 level could act as support. Further below, the 1.2100 and 1.2050 levels could serve as support.
Thu, 08 Dec 2022 17:58:36 GMT
Source: Dukascopy Bank SA
On Thursday, the GBP/USD pair found support in the weekly simple pivot point at 1.2162 and surged to the 1.2250 level.
In the case of the pair moving above 1.2250, the 1.2300 and 1.2350 levels are highly likely to act as resistance, as they stopped the last week's surge.
However, a decline of the Pound against the US Dollar might be slowed down by the 50 and 100-hour simple moving averages at 1.2180 and 1.2200, before reaching the weekly simple pivot point at 1.2162. In addition, the 200-hour simple moving average and the 1.2150 level could act as support. Further below, the 1.2100 and 1.2050 levels could serve as support.