GBP/USD Rally Faces Resistance at 200-Day Moving Average Amid US Data Release

Although data released in the US caused a brief sell-off in the cable (GBP/USD) yesterday, it failed to put an end to the approximately 220-pip rally it experienced this week. The first resistance above is highlighted at the 200-day moving average level, ranging from 1.2555 to 1.2560. Above this level, levels such as 1.2615 and 1.2670 may come into play as long as the trend continues. On the downside, the range of 1.2455 to 1.2460 will be monitored as the initial support, while the range of 1.2430 to 1.2415 will be the last level to watch before the major support zone of 1.23

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2670	1.2615	1.2560	1.2460	1.2415	1.2300