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GBP/USD Technical Analysis: Holding at 1.2750, but downward pressure continues to mount

Despite an early GBP/USD run-up, the pairing remains well-attached to the 200-period moving average as the upside remains capped off by bearish pressure from descending intraday highs.

GBP/USD, 5-Minute

The past two weeks see the Cable experiencing a mild downside drift, but consistent drives into the upside are preventing a smooth selling environment as Brexit-centric market focus continues to whip the GBP markets, hobbling any trend opportunities in the near-term.

GBP/USD, 30-Minute

Moving further back, 4-Hour candles show the Cable getting squeezed by consistent downside pressure into major support from the 1.2700 handle, and bidders continue to come out of the woodwork at the critical level to stop the GBP/USD's slide below that level, and the barrier can be expected to continue holding unless Tuesday's Brexit vote broadly misses.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.275
    Today Daily change: 8.0 pips
    Today Daily change %: 0.0628%
    Today Daily Open: 1.2742
Trends:
    Previous Daily SMA20: 1.2806
    Previous Daily SMA50: 1.2932
    Previous Daily SMA100: 1.2958
    Previous Daily SMA200: 1.3288
Levels:
    Previous Daily High: 1.2812
    Previous Daily Low: 1.271
    Previous Weekly High: 1.284
    Previous Weekly Low: 1.2659
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2749
    Previous Daily Fibonacci 61.8%: 1.2773
    Previous Daily Pivot Point S1: 1.2698
    Previous Daily Pivot Point S2: 1.2654
    Previous Daily Pivot Point S3: 1.2597
    Previous Daily Pivot Point R1: 1.2799
    Previous Daily Pivot Point R2: 1.2856
    Previous Daily Pivot Point R3: 1.29

 

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