GBP/USD Price Analysis: Pound consolidates gains near 1.2400 handle

GBP/USD bounced off sharply from the 1985 lows.
GBP/USD is consolidating gains at the start of the week.

GBP/USD daily chart

GBP/USD reversed up sharply from 1985 lows as the market trades below the main daily simple moving averages (SMAs).

GBP/USD four-hour chart

GBP/USD is consolidating gains as the market is trading above the 50 and 100 SMAs. Bulls want a continuation of the strong bullish momentum by breaking above the 1.2444/1.2500 resistance zone en route towards the 1.2600 figure while support can be expected near the 1.2350, 1.2280 and 1.2130 price levels.

Resistance: 1.2444, 1.2500, 1.2600

Support: 1.2350, 1.2280, 1.2130

Additional key levels

Mar 30, 2020

BoE: Will continue to offer weekly Contingent Term Repo Facility (CTRF) through Apr. 2020

The Bank of England (BoE) announced on Monday that it will continue to offer the Contingent Term Repo Facility (CTRF) on a weekly basis through April

EUR/USD Price Analysis: Euro starts the week on the back foot, nearing 1.1000 handle

EUR/USD is retreating down from last week’s high as the spot is approaching the 1.1100 figure and the 50 DMA (daily simple moving average as DXY is picking up