22 Apr 2020
GBP/USD Price Analysis: 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