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.

Flavio Tosti Independent Analyst

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 price	1.2412
Today Daily Change	-0.0042
Today Daily Change %	-0.34
Today daily open	1.2454

Trends
Daily SMA20	1.2351
Daily SMA50	1.2737
Daily SMA100	1.2886
Daily SMA200	1.267

Levels
Previous Daily High	1.2486
Previous Daily Low	1.2133
Previous Weekly High	1.2486
Previous Weekly Low	1.1447
Previous Monthly High	1.3204
Previous Monthly Low	1.2726
Daily Fibonacci 38.2%	1.2351
Daily Fibonacci 61.8%	1.2268
Daily Pivot Point S1	1.2229
Daily Pivot Point S2	1.2005
Daily Pivot Point S3	1.1876
Daily Pivot Point R1	1.2582
Daily Pivot Point R2	1.271
Daily Pivot Point R3	1.2935

Author

Flavio Tosti

Independent Analyst

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