GBP/USD declines after new high

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The GBP/USD was about to hit the 1.2550 mark on Friday, as it started a decline. By mid-day, the rate appeared to be passing below the support of the 1.2500 mark and the 50-hour simple moving average.

Below the 1.2500 mark, support might be found in the 1.2450 level and the 100 and 200-hour simple moving averages near that level. Further below, note the 1.2400 mark and the weekly simple pivot point.

A resumption of the surge of the Pound against the US Dollar might be slowed down by the 1.2500 mark and the 50-hour simple moving average. Higher above note that 1.2550 could once again act as resistance.
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Fri, 14 Apr 2023 11:30:13 GMT

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