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  • GBP/USD is rebounding sharply from the 2020 lows. 
  • GBP/USD recovery remains intact as the market is headed towards the 1.2500 handle. 

GBP/USD daily chart

After sinking to 1985 lows in March, GBP/USD is bouncing sharply while the quote remains below its main simple moving averages (SMAs) on the daily chart.

GBP/USD four-hour chart

GBP/USD is consolidating the sharp rebound from the March lows while trading above the 1.2300 figure and the 50/100 SMAs on the four-hour chart but below the 200 SMA. Bulls are likely looking for more up especially on a break above the 1.2450/1.2500 price zone en route to the 1.2600 figure while support can emerge near the 1.2300, 1.2200 and 1.2100 price levels. 
Resistance:1.2450, 1.2500, 1.2600
Support: 1.2300, 1.2200, 1.2100

Additional key levels