GBP/USD respects round levels

Source: Dukascopy Bank SA


In general, the GBP/USD has been trading between the 1.2600 and 1.2700 levels. Meanwhile support and resistance from time to time is found in the 1.2620, 1.2640, 1.2660 and 1,2680 levels. In addition, note the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near 1.2650.

A move above 1.2650 could be slowed down by the 1.2660 and 1.2680 levels, before the pair tests the 1.2700 mark. Above 1.2700, take into account the weekly R1 simple pivot point at 1.2725.

On the other hand, a decline of the Pound against the USD is set to look for support in the 1.2590/1.2610 range and the weekly S1 simple pivot point at 1.2595. Below these levels, the weekly S2 might slow down a decline at 1.2522, before the 1.2500 would be reached.
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