- The GBP/USD is trading at 6-week lows on the third day of the week.
- The level to beat for the sellers, it is the 1.2200 figure.
GBP/USD daily chart
The pair GBP/USD is trading below the head of the Amf on the daily chart suggesting a bearish bias as the market recovers slightly from 6-week low.
The GBP/USD four-hour chart
The pair GBP/USD is having a reaction, although the case is still below 100 and 200 SMAs on the four hours chart. The market is currently limited by the 1.2300 figure, and the 50 SMA. Since then, the general trend is downward, you don’t want to can come back soon and try to push the price below the 1.2200 level, heading towards the 1.2100 level. On the other hand, a clear break beyond 1.2300 can produce more, but limited progress. The resistors can be seen near 1.2400 and 1.2500 levels.
Resistance: 1.2300, 1.2400, 1.2500
Support: 1.2200, 1.2100, 1.1955