News

GBP/USD Price Analysis: Pound holds above 1.2400 figure vs. US dollar, bullish

  • GBP/USD bullish recovery stays intact as the spot holds above the 1.2400 figure.
  • The level to beat for bulls the 1.2400 resistance. 
 

GBP/USD daily chart

 
The recent recovery remains intact as the quote is consolidating above the 1.2300 figure but below its main SMAs on the daily chart.
 

GBP/USD four-hour chart

 
GBP/USD is trading above its main SMAs on the four-hour chart as the market formed a strong base in April. This week bulls will be looking for a break above the 1.2500 figure en route towards the 1.2600 and 1.2700 levels. On the flip side, support is expected to emerge near 1.2400 and 1.2300 levels.  
 
 
Resistance: 1.2500, 1.2600, 1.2700
Support: 1.2400, 1.2300, 1.2200
 
  

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.