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GBP/USD Price Analysis: Pound consolidates gains near 1.2400 handle

  • GBP/USD bounced off sharply from the 1985 lows. 
  • GBP/USD is consolidating gains at the start of the week. 
 

GBP/USD daily chart

 
GBP/USD reversed up sharply from 1985 lows as the market trades below the main daily simple moving averages (SMAs). 
 

GBP/USD four-hour chart

 
GBP/USD is consolidating gains as the market is trading above the 50 and 100 SMAs. Bulls want a continuation of the strong bullish momentum by breaking above the 1.2444/1.2500 resistance zone en route towards the 1.2600 figure while support can be expected 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 price1.2412
Today Daily Change-0.0042
Today Daily Change %-0.34
Today daily open1.2454
 
Trends
Daily SMA201.2351
Daily SMA501.2737
Daily SMA1001.2886
Daily SMA2001.267
 
Levels
Previous Daily High1.2486
Previous Daily Low1.2133
Previous Weekly High1.2486
Previous Weekly Low1.1447
Previous Monthly High1.3204
Previous Monthly Low1.2726
Daily Fibonacci 38.2%1.2351
Daily Fibonacci 61.8%1.2268
Daily Pivot Point S11.2229
Daily Pivot Point S21.2005
Daily Pivot Point S31.1876
Daily Pivot Point R11.2582
Daily Pivot Point R21.271
Daily Pivot Point R31.2935

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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