Home GBP/USD Price Analysis: Pound consolidates gains near 1.2400 handle
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GBP/USD Price Analysis: Pound consolidates gains near 1.2400 handle

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Published date:
  • GBP/USD bounced off sharply from the 1985 lows. 
  • GBP/USD is consolidating gains at the start of the week. 
 

GBP/USD daily chart

 
GBP/USD reversed up sharply from 1985 lows as the market trades below the main daily simple moving averages (SMAs). 
 

GBP/USD four-hour chart

 
GBP/USD is consolidating gains as the market is trading above the 50 and 100 SMAs. Bulls want a continuation of the strong bullish momentum by breaking above the 1.2444/1.2500 resistance zone en route towards the 1.2600 figure while support can be expected near the 1.2350, 1.2280 and 1.2130 price levels.
 
 
Resistance: 1.2444, 1.2500, 1.2600
Support: 1.2350, 1.2280, 1.2130
 
  

Additional key levels

 

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