Looking ahead, 1.99 will represent a considerable test for the recent pound rally

-Pair broke 50-SMA and fell 1.7 percent before retracing to near-term support levels early this month.

[B][U]GBP/USD Technical:[/U][/B]

  • Resistance: 1.9895
  • Support: 1.9700
  • Pair broke 50-SMA and fell 1.7 percent before retracing to near-term support levels early this month.
  • Looking ahead, 1.99 will represent a considerable test for the recent pound rally since it has acted as both support and resistance for the past few weeks.
    See Daily Technicals for more details:
    Tight Ranges Could Lead to Breakouts
    Daily Chart