Anna 
During the Asian trading session on Thursday, the British Pound to US Dollar (GBP/USD) exchange rate saw an uptick. The weakened U.S. dollar, following the Federal Reserve’s (Fed) decision to keep interest rates stable, boosted the GBP/USD pair, as the probability of the Fed no longer hiking rates increased after the press conference. Currently, GBP/USD is trading around 1.2184, marking a 0.28% intraday gain.
From a technical perspective, the hourly chart shows that GBP/USD is above the 50-hour and 100-hour moving averages, indicating a bias for further upside potential. Additionally, the Relative Strength Index is above 50, residing in the bullish territory, suggesting that buyers continue to dominate for the time being.
Key resistance levels will be found in the 1.2200-1.2210 range, which is a confluence of psychological support, the upper Bollinger Band, and the low point from October 31. If GBP/USD breaks through this level, it may rebound to the October 16 high at 1.2218. Other notable resistance levels to watch for are 1.2288 (the high from October 24) and then 1.2300 (a psychological level).
Conversely, initial key support can be found near the 100-hour moving average, approximately at 1.2147. In case of further downside, the next support area is near the October 31 low at 1.2119. Key support levels lie in the 1.2095-1.2100 range, a confluence of psychological support, the lower Bollinger Band, and the low from October 20. Should GBP/USD fall below this level, it could drop to the low from October 26 at 1.2066.
