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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. 


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


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