GBP/USD Price Analysis: Pound trades in session highs near 1.2400 figure

GBP/USD bullish recovery remains intact as the spot challenges the 1.2400 figure.
The level to beat for bulls the 1.2400 resistance.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is consolidating the recent recovery as the quote is stabilizing above the 1.2300 handle.

GBP/USD four-hour chart

As expected GBP/USD is challenging the 1.2400 resistance and the 100 SMA on the four-hour chart. As the bullish recovery stays intact a break beyond this level can yield further price appreciation towards the 1.2500 and 1.2600 price levels. Support is seen near 1.2300 and 1.2200 figures.

Resistance: 1.2400, 1.2500, 1.2600

Support: 1.2300, 1.2200, 1.2000

Additional key levels

GBP/USD

Overview
Today last price	1.2399
Today Daily Change	0.0065
Today Daily Change %	0.53
Today daily open	1.2334

Trends
Daily SMA20	1.2403
Daily SMA50	1.2517
Daily SMA100	1.2796
Daily SMA200	1.2655

Levels
Previous Daily High	1.2386
Previous Daily Low	1.2275
Previous Weekly High	1.2648
Previous Weekly Low	1.2407
Previous Monthly High	1.3201
Previous Monthly Low	1.1412
Daily Fibonacci 38.2%	1.2344
Daily Fibonacci 61.8%	1.2317
Daily Pivot Point S1	1.2277
Daily Pivot Point S2	1.222
Daily Pivot Point S3	1.2166
Daily Pivot Point R1	1.2388
Daily Pivot Point R2	1.2443
Daily Pivot Point R3	1.25

Author

Flavio Tosti

Independent Analyst

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