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GBP/USD – Watch 1.2200 for Support

GBP/USD – Watch 1.2200 for Support

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Is Cable carving a low? If so, then I can think of no better place for support than late December and early 2017 lows at 1.2200. As it is now, the rate is holding the 20 day average, which was resistance earlier this month and support in November but would think that a little more chop is needed in order to even out the +3% day.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.