GBP/USD retraces upwards

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


The decline of the Pound against the US Dollar has found support in the 1.2425/1.2435 range. However, by mid-Monday, the rate had reached the resistance of the 50-hour simple moving average and the 1.2500 mark. It was observed that the broader decline was resuming.

A decline of the GBP/USD pair is set to look for support in the 1.2450 level and the 1.2425/1.2435 range. Further below, note the 1.2400 level and the combination of the weekly S1 at 1.2347 and 1.2350 level.

However, a surge of the Pound would have to break the 50-hour SMA and the 1.2500 mark. Higher above, note the cluster of levels from 1.2519 up to 1.2600. In this range there are a historical low level, two simple moving averages, and a prior low and high level range.
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Mon, 15 Apr 2024 13:16:02 GMT

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