The GBP/USD chart is currently neutral, likely to move between the 1st resistance at 1.2217 and the 1st support at 1.2122. The 1st support is significant, coinciding with a multi-swing low and the 78.60% Fibonacci Retracement level. The 2nd support is at 1.2063, adding another layer of potential price support. On the resistance side, the 1st resistance at 1.2217 is a multi-swing high, and the 2nd resistance at 1.2271 is an overlap resistance.
The material has been provided by InstaForex Company – www.instaforex.com
The GBP/USD chart is currently neutral, likely to move between the 1st resistance at 1.2217 and the 1st support at 1.2122. The 1st support is significant, coinciding with a multi-swing low and the 78.60% Fibonacci Retracement level. The 2nd support is at 1.2063, adding another layer of potential price support. On the resistance side, the 1st resistance at 1.2217 is a multi-swing high, and the 2nd resistance at 1.2271 is an overlap resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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