GBP/USD New York Price Forecast: Pound challenges 1.2400 figure ahead of NFP

GBP/USD bullish recovery from mid-March remains intact.
GBP/USD faces an important resistance near 1.2400 figure.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD keeps consolidating in the 1.2300/1.2600 price zone while trading below the 100/200 SMAs on the daily chart but challenging the 50 SMA. Market players are going to shift their focus to the NFP numbers in the US.

GBP/USD four-hour chart

GBP/USD found support near 1.2300 while trading just below the main SMAs. Buyers want a continuation of the bullish recovery from mid-March and a break above the 1.2400 figure en route towards the 1.2500 and 1.2600 levels. Conversely, a daily close below 1.2300 can attract further selling interest.

Resistance: 1.2400, 1.2500, 1.2600

Support: 1.2300, 1.2400, 1.2300

Additional key levels

GBP/USD

Overview
Today last price	1.2382
Today Daily Change	0.0014
Today Daily Change %	0.11
Today daily open	1.2368

Trends
Daily SMA20	1.2442
Daily SMA50	1.24
Daily SMA100	1.2714
Daily SMA200	1.2659

Levels
Previous Daily High	1.2418
Previous Daily Low	1.2266
Previous Weekly High	1.2644
Previous Weekly Low	1.236
Previous Monthly High	1.2648
Previous Monthly Low	1.2165
Daily Fibonacci 38.2%	1.236
Daily Fibonacci 61.8%	1.2324
Daily Pivot Point S1	1.2283
Daily Pivot Point S2	1.2199
Daily Pivot Point S3	1.2131
Daily Pivot Point R1	1.2435
Daily Pivot Point R2	1.2503
Daily Pivot Point R3	1.2587

Author

Flavio Tosti

Independent Analyst

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