News

GBP/USD Price Analysis: Pound recovery remains intact vs. US dollar

  • GBP/USD is rebounding sharply from the 2020 lows. 
  • GBP/USD recovery remains intact as the market is headed towards the 1.2500 handle. 
 

GBP/USD daily chart

 
After sinking to 1985 lows in March, GBP/USD is bouncing sharply while the quote remains below its main simple moving averages (SMAs) on the daily chart.
 

GBP/USD four-hour chart

 
GBP/USD is consolidating the sharp rebound from the March lows while trading above the 1.2300 figure and the 50/100 SMAs on the four-hour chart but below the 200 SMA. Bulls are likely looking for more up especially on a break above the 1.2450/1.2500 price zone en route to the 1.2600 figure while support can emerge near the 1.2300, 1.2200 and 1.2100 price levels. 
 
 
Resistance:1.2450, 1.2500, 1.2600
Support: 1.2300, 1.2200, 1.2100
 
  

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.