GBP/USD: ???????? ????????? ????????? ??? 1.2900
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Pound trades in 5-week lows near 1.2200 figure, bearish

  • GBP/USD is under heavy selling pressure near 5-week lows.  
  • The level to beat for sellers is the 1.2200 figure. 

 

GBP/USD daily chart

 

GBP/USD is trading below its main SMAs on the daily chart suggesting a bearish bias as the market is under selling pressure in 5-week lows. 

 

 

GBP/USD four-hour chart

 

GBP/USD is declining below the main SMAs on the four-hour chart as the bears are nearing the 1.2200 figure. As bears remain in control GBP/USD is seen continuing declining and reach the 1.2100 and 1.1950 levels in the medium-term. Occasional bullish attempts should find resistance near 1.2300 and 1.2400 levels. 

 

 

 

Resistance: 1.2300, 1.2400, 1.2500

Support: 1.2200, 1.2100, 1.1950

 

  

Additional key levels

 

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