GBP/USD Price Analysis: Pound holds above 1.2400 figure vs. US dollar, bullish

  • GBP/USD bullish recovery stays intact as the spot holds above the 1.2400 figure.
  • The level to beat for bulls the 1.2400 resistance. 

GBP/USD daily chart

The recent recovery remains intact as the quote is consolidating above the 1.2300 figure but below its main SMAs on the daily chart.

GBP/USD four-hour chart

GBP/USD is trading above its main SMAs on the four-hour chart as the market formed a strong base in April. This week bulls will be looking for a break above the 1.2500 figure en route towards the 1.2600 and 1.2700 levels. On the flip side, support is expected to emerge near 1.2400 and 1.2300 levels.  
Resistance: 1.2500, 1.2600, 1.2700
Support: 1.2400, 1.2300, 1.2200

Additional key levels


Today last price 1.2421
Today Daily Change 0.0049
Today Daily Change % 0.40
Today daily open 1.2372
Daily SMA20 1.2406
Daily SMA50 1.2489
Daily SMA100 1.278
Daily SMA200 1.2653
Previous Daily High 1.2377
Previous Daily Low 1.2298
Previous Weekly High 1.2503
Previous Weekly Low 1.2247
Previous Monthly High 1.3201
Previous Monthly Low 1.1412
Daily Fibonacci 38.2% 1.2347
Daily Fibonacci 61.8% 1.2328
Daily Pivot Point S1 1.2321
Daily Pivot Point S2 1.227
Daily Pivot Point S3 1.2242
Daily Pivot Point R1 1.24
Daily Pivot Point R2 1.2428
Daily Pivot Point R3 1.2479



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