30 Apr 2020
GBP/USD New York Price Forecast: Pound battling with the 1.2500 figure vs. US dollar
- GBP/USD is challenging the 1.2500 figure in the North American session.
- The bullish recovery remains intact as bulls eye the 1.2600 level.
GBP/USD daily chart
The bullish recovery initiated in mid-March remains intact as the quote remains bullish above its 50 SMA on the daily chart.
GBP/USD four-hour chart
As expected GBP/USD broke above the 1.2500 figure while trading above the main SMAs on the four-hour chart. The bulls remain firmly in control and further strength towards the 1.2600 and 1.2700 levels can be on the cards. On the flip side, support can be expected near 1.2500 now turning support and near the 1.2400 level.
Resistance: 1.2600, 1.2700, 1.2750
Support: 1.2500, 1.2400, 1.2300
Additional key levels