The GBP/USD, good technical round number levels

[idimitrov]

The dollar changed unsignificantly near a seven-week high against other major currencies. Traders are taking profits after the recent rise of the dollar. The dollar has a growing against the probability of a US interest rate hike this month.
The pair GBP/USD fell by 0.32% to a minimum of six weeks at 1.2226.

 

[deresel]

On Friday, the dollar fell against other major currencies. Traders continued to take profits after a recent rise in price of the dollar to a maximum of seven weeks. However, the depreciation of the dollar is limited because of the increasing likelihood of higher interest rates in the US this month.
The pair GBP/USD fell by 0.29% to a minimum of six weeks of 1.2230 after a research of group Markit said that last month the index of business activity in the manufacturing sector (PMI) fell to the UK five-month low of 53.3 against the values 54.5 in January. Analysts had expected in February to reduce this figure to 54.1. Later the pair rose to 1.2297.

 

[deresel]

Key levels to watch for:
Support: 1.2220; 1.2120; 1.1627;
Resistance: 1.2420; 1.2558; 1.2690;

 

[fxstrategist]

Possible hammer formation on the GBPUSD with good resistance at the 1.2300 level, but a breakout of that level could change the trend of the pair.

 

[csc2009]

Pound remains under 1.2300 level showing no clear directional strength, but risk is still on the downside, next support level lies around 1.22.

 

[csc2009]

The pair appears to continue heading north, break below 1.2200 level. Bearish momentum is strong, further decline might lead to 1.21 level.

 

[victoriajensen]

GBP/USD is testing the support at 1.2185 and the pair is quite bearish, but a short retracement is possible because there is an inverted hammer candlestick as well as a doji candlestick on the one-hour time-frame above the aforementioned support.

 

[deresel]

The British pound recorded a decline against the US dollar on Tuesday. The pair lost 38 pips at a closing price of 1.2197. Daily extreme values were reached respectively at 1.2251 and 1.2168. Bearish sentiment retain its dominance at present, as confirmed break of 1.2150 will enable the continuing decline.

 

[deresel]

Key levels to watch for:
Support: 1.2150;
Resistance: 1.2360; 1.2516; 1.2700.

 

[csc2009]

Gbp/Usd remains bearish, 1.2150 is the key support level, break below could lead to further decline towards 1.2100 level.