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

GBP/USD

Overview
Today last price 1.2421
Today Daily Change 0.0049
Today Daily Change % 0.40
Today daily open 1.2372
 
Trends
Daily SMA20 1.2406
Daily SMA50 1.2489
Daily SMA100 1.278
Daily SMA200 1.2653
 
Levels
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

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD met sellers on another approach to 0.7340

The greenback soared following the release of upbeat US data, resulting in AUD/USD falling back below the 0.7300 threshold. Australian Trade Balance coming up next.

AUD/USD News

XAU/USD attempting to set a bottom at $1,830 multi-month low

Gold futures have finally broken support at $1,850 on Monday, plunging to fresh four-month lows at $1,830 amid a broadly stronger US dollar. XAU/USD has managed to find buyers at the mentioned $1,830 although it remains about 1.6% lower on the day.

Gold news

USD/JPY regains 104.50, could extend recovery

The USD/JPY pair hit a one-week high of 104.63 and is set to extend gains on persistent dollar’s strength. The positive tone of equities provide additional support to the pair.

USD/JPY News

Bitcoin final leg to $20,000 lingers, as crypto bull cycle rockets

Cryptocurrencies across the board had a memorable weekend session, with most of them rallying to new yearly highs. Ethereum, for instance, hit highs of $585 for the first time since 2018. On the other hand, Ripple brushed shoulders with $0.5.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex MAJORS

Cryptocurrencies

Signatures