Black Pipper

Forex Dreamers

GBP/USD: Cable targets daily high of 1.2380

The pound is in a downtrend below the 100/200-day SMA. The GBP / USD has recovered from the 1.2320 support and now challenges the 1.2360 resistance and the 50-SMA. Rise above this level opens the way to the 1.2380 daily high and the 1.2415 resistance.

Technical levels

S1 1.2298
S2 1.2245
S3 1.2144

R1 1.2452
R2 1.2553
R3 1.2606


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