GBP/USD Price Analysis: Pound nearing two-week’s highs, trading in mid-1.2400s

GBP/USD is approaching the 1.2500 figure and the last swing high.
The level to beat for bulls is the 1.2500 level.

Flavio Tosti Independent Analyst

GBP/USD daily chart

After tumbling to 1985 lows in March, GBP/USD is rebounding sharply while the spot remains below the main simple moving averages (SMAs) on the daily chart. The cable is also nearing two-week’s highs and about to challenge the last swing high.

GBP/USD four-hour chart

GBP/USD is approaching the 1.2500 resistance while trading above its main SMAs on the four-hour chart suggesting bullish momentum in the medium term. If the spot break above the above-mentioned level, GBP/USD can continue to appreciate further with bulls setting their eyes on the 1.2600 and 1.2800 figures. Support can be expected near the 1.2400, 1.2300 and 1.2200 figures on any pullback down.

Resistance: 1.2500, 1.2600, 1.2800

Support: 1.2400, 1.2300, 1.2200

Additional key levels

GBP/USD

Overview
Today last price	1.2474
Today Daily Change	0.0088
Today Daily Change %	0.71
Today daily open	1.2386

Trends
Daily SMA20	1.2128
Daily SMA50	1.2624
Daily SMA100	1.2843
Daily SMA200	1.2657

Levels
Previous Daily High	1.242
Previous Daily Low	1.2288
Previous Weekly High	1.2476
Previous Weekly Low	1.2205
Previous Monthly High	1.3201
Previous Monthly Low	1.1412
Daily Fibonacci 38.2%	1.237
Daily Fibonacci 61.8%	1.2339
Daily Pivot Point S1	1.231
Daily Pivot Point S2	1.2233
Daily Pivot Point S3	1.2178
Daily Pivot Point R1	1.2441
Daily Pivot Point R2	1.2496
Daily Pivot Point R3	1.2573

Author

Flavio Tosti

Independent Analyst

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