Mon, 13 May 2024 11:13:32 GMT
GBP/USD is squeezed in
Last week, despite being pierced, the 1.2460/1.2470 range held as support and forced the pair to recover. On Monday, the recovery was stuck between the support of the three hourly simple moving averages and the weekly simple pivot point near 1.2520 and the resistance range at 1.2535/1.2550.
A broader surge would most likely face resistance in the 1.2600 and