GBP/USD New York Price Forecast: Pound sidelined near 1.2400 figure

After reaching 1985 lows in March, GBP/USD bounced up sharply while the quote trades now below the main daily simple moving averages (SMAs).  |  02/04/2020 14:10
  • GBP/USD bounced up sharply after reaching the 1985 lows in March. 
  • GBP/USD is consolidating the bullish run near the 1.2400 figure.
 

GBP/USD daily chart

 
After reaching 1985 lows in March, GBP/USD bounced up sharply while the quote trades now below the main daily simple moving averages (SMAs). 
 

GBP/USD four-hour chart

 
GBP/USD is consolidating the recent surge as the spot is trading above the 50 and 100 SMAs but below its 200 SMA. Bulls need a continuation of the strong bullish move by breaking beyond the 1.2444/1.2500 resistance zone with the 1.2600 figure as an interim target while support can be found 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

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com