23 Apr 2020
GBP/USD Price Analysis: Pound trades in session highs near 1.2400 figure
- GBP/USD bullish recovery remains intact as the spot challenges the 1.2400 figure.
- The level to beat for bulls the 1.2400 resistance.
GBP/USD daily chart
GBP/USD is consolidating the recent recovery as the quote is stabilizing above the 1.2300 handle.
GBP/USD four-hour chart
As expected GBP/USD is challenging the 1.2400 resistance and the 100 SMA on the four-hour chart. As the bullish recovery stays intact a break beyond this level can yield further price appreciation towards the 1.2500 and 1.2600 price levels. Support is seen near 1.2300 and 1.2200 figures.
Resistance: 1.2400, 1.2500, 1.2600
Support: 1.2300, 1.2200, 1.2000
Additional key levels