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GBP/USD Technical Analysis: Slow lift from 1.2500 sees bears positioned for further downside

  • GBP/USD remains trapped just above 1.2570, and a cautious recovery from Monday's bottom at the 1.2500 handle sees the Cable mixing with the 200-period moving average, implying the pair has lost momentum for the time being.

GBP/USD, 5-Minute

  • This week's decline sees the Cable knocking down into a new support/resistance zone, and the 1.2700 key barrier that provided support in the near-term will now be a ceiling for any bullish pushes.

GBP/USD, 30-Minute

  • The Cable has accelerated losses that were clearly telegraphed on the 4-hour candlesticks, and now the concern will be a bullish correction caused by profit-taking that could set up a re-test of key resistance at 1.2700 for a reload on short positions.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.257
    Today Daily change: 11 pips
    Today Daily change %: 0.0876%
    Today Daily Open: 1.2559
Trends:
    Previous Daily SMA20: 1.2792
    Previous Daily SMA50: 1.2922
    Previous Daily SMA100: 1.2953
    Previous Daily SMA200: 1.3281
Levels:
    Previous Daily High: 1.276
    Previous Daily Low: 1.2507
    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%: 1.2604
    Previous Daily Fibonacci 61.8%: 1.2663
    Previous Daily Pivot Point S1: 1.2457
    Previous Daily Pivot Point S2: 1.2355
    Previous Daily Pivot Point S3: 1.2204
    Previous Daily Pivot Point R1: 1.2711
    Previous Daily Pivot Point R2: 1.2862
    Previous Daily Pivot Point R3: 1.2964

 

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