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The GBP/USD found support in the 1.2685/1.2695 range and the 1.2700 mark. Meanwhile, a resistance range has been spotted and marked at 1.2783/1.2793. Despite the updates, the rate remained near previous levels.
A move below 1.2700 and 1.2685/1.2695 might result in the rate looking for support in the 1.2650 level. This level acted as support on Thursday. Further below, note the weekly S1 at 1.2618 and the 1.2600 mark.
However, in the case of a Pound's recovery against the US Dollar, expect resistance to be found in the combination of the 1.2800 mark, the 1.2783/1.2793 range and the 200-hour simple moving average, before higher levels are reached.
Wed, 09 Aug 2023 09:51:39 GMT
Source: Dukascopy Bank SA
The GBP/USD found support in the 1.2685/1.2695 range and the 1.2700 mark. Meanwhile, a resistance range has been spotted and marked at 1.2783/1.2793. Despite the updates, the rate remained near previous levels.
A move below 1.2700 and 1.2685/1.2695 might result in the rate looking for support in the 1.2650 level. This level acted as support on Thursday. Further below, note the weekly S1 at 1.2618 and the 1.2600 mark.
However, in the case of a Pound's recovery against the US Dollar, expect resistance to be found in the combination of the 1.2800 mark, the 1.2783/1.2793 range and the 200-hour simple moving average, before higher levels are reached.