GBPUSD Recovery Threats Remain Towards 1.2249 Level

Technical analysis of Forex market

GBPUSD recovery threats remain towards 1.2249 level as we expect more strength in the days ahead. Support comes in at 1.2150 with a turn below that level shifting focus to the 1.2100 level. Further down, support resides at the 1.2050 level where a break will turn attention to the 1.2000 level. Further down, support lies at the 1.1950 level. On the upside, resistance stands at the 1.2200 with a turn above here allowing for additional strength to build up towards the 1.2250 level. Further out, resistance stands at the 1.2300 level followed by the 1.2350 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, GBPUSD retains its upside pressure on corrective recovery.

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