GBP/USD Price Analysis: Pound stabilizes above 1.2300 figure

GBP/USD bullish recovery remains intact as the spot holds above the 1.2300 figure.
The level to beat for buyers is the 1.2400 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD consolidates the recent bull-run as the spot is stabilizing above the 1.2300 figure.

GBP/USD four-hour chart

GBP/USD is trading above the 200 SMA on the four-hour chart suggesting a bullish bias in the medium-term. However, the spot is also trading below the 50 and 100 SMAs while holding above the 1.2300 figure. All-in-all, bulls remain in control and a break above the 1.2400 figure can lead to further advances towards the 1.2500 and 1.2600 figures.

Resistance: 1.2400, 1.2500, 1.2600

Support: 1.2300, 1.2200, 1.2000

Additional key levels

GBP/USD

Overview
Today last price	1.233
Today Daily Change	0.0037
Today Daily Change %	0.30
Today daily open	1.2293

Trends
Daily SMA20	1.238
Daily SMA50	1.2529
Daily SMA100	1.2804
Daily SMA200	1.2655

Levels
Previous Daily High	1.2449
Previous Daily Low	1.2247
Previous Weekly High	1.2648
Previous Weekly Low	1.2407
Previous Monthly High	1.3201
Previous Monthly Low	1.1412
Daily Fibonacci 38.2%	1.2324
Daily Fibonacci 61.8%	1.2372
Daily Pivot Point S1	1.2211
Daily Pivot Point S2	1.2128
Daily Pivot Point S3	1.201
Daily Pivot Point R1	1.2412
Daily Pivot Point R2	1.2531
Daily Pivot Point R3	1.2613

Author

Flavio Tosti

Independent Analyst

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