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GBP/USD Price Analysis: Pound bulls taking a breather after massive surge to 1.2400 handle

  • GBP/USD reversed up sharply after hitting the 1985 lows in March. 
  • GBP/USD is consolidating the massive gains near 1.2400 figure.
 

GBP/USD daily chart

 
After hitting 1985 lows in March, GBP/USD is reversing up sharply while the spot trades below the main daily simple moving averages (SMAs). 
 

GBP/USD four-hour chart

 
The pound is consolidating the recent massive gains as the market is trading above the 50 and 100 SMAs but below the 200 SMA. Buyers want a continuation of the strong upward move by breaking above the 1.2444/1.2500 resistance zone with the 1.2600 figure as potential interim target while support can emerge near the 1.2350, 1.2280 and 1.2130 price levels.
 
 
Resistance: 1.2444, 1.2500, 1.2600
Support: 1.2350, 1.2280, 1.2130
 
  

Additional key levels

GBP/USD

Overview
Today last price 1.2392
Today Daily Change -0.0025
Today Daily Change % -0.20
Today daily open 1.2417
 
Trends
Daily SMA20 1.2314
Daily SMA50 1.2713
Daily SMA100 1.2878
Daily SMA200 1.2667
 
Levels
Previous Daily High 1.2471
Previous Daily Low 1.2244
Previous Weekly High 1.2486
Previous Weekly Low 1.1447
Previous Monthly High 1.3201
Previous Monthly Low 1.1412
Daily Fibonacci 38.2% 1.2384
Daily Fibonacci 61.8% 1.2331
Daily Pivot Point S1 1.2283
Daily Pivot Point S2 1.215
Daily Pivot Point S3 1.2056
Daily Pivot Point R1 1.2511
Daily Pivot Point R2 1.2605
Daily Pivot Point R3 1.2738

 

 

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