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28 Apr 2020

GBP/USD Price Analysis: Pound dips and stabilizes around mid-1.2400s

GBP/USD bullish reversal remains intact as the spot holds above the 1.2400 level.
The level to beat for buyers the 1.2500 resistance.

GBP/USD daily chart

The recovery from mid-March remains intact as the spot consolidates above the 1.2300 figure but below the main SMAs on the daily chart.

GBP/USD four-hour chart

GBP/USD is trading above the main SMAs on the four-hour chart as the spot formed a convincing base in April. Although GBP/USD dipped slightly this Tuesday, bulls are still likely to be looking for a break above the 1.2500 figure en route towards the 1.2600 and 1.2700 levels. Conversely, support is can be seen near 1.2400 and 1.2300 levels.

Resistance: 1.2500, 1.2600, 1.2700

Support: 1.2400, 1.2300, 1.2200

Additional key levels

Apr 28, 2020

EUR/USD finds resistance ahead of 1.0900, turns flat near 1.0830

Boosted by the upbeat market mood, the EUR/USD pair rose to a fresh weekly high of 1.0890 during the European trading hours. However, the pair struggl

US House Speaker Pelosi: Congress to consider separate aid packages for local governments

The US Congress could consider putting together separate aid packages for states and local governments, US House Speaker Nancy Pelosi said on Tuesday.