- 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
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