GBP/USD Technical Analysis: Intraday positive momentum stalls near 200-hour SMA
• The intraday positive momentum faced rejection at 200-hour SMA, with the pair quickly retreating over 25-30 pips from an intraday high level of 1.2687.
• Technical indicators on the daily chart are yet to catch up with the latest leg of a positive move and seemed to be the only factor capping additional gains.
• Meanwhile, oscillators on the 1-hourly chart have also started losing positive momentum but have still managed to hold in the bullish territory.
• Hence, it would be prudent to wait for a strong follow-through buying beyond 200-hour SMA before positioning for any further near-term up-move.
GBP/USD 1-hourly chart
Today Last Price: 1.2654
Today Daily change: -17 pips
Today Daily change %: -0.134%
Today Daily Open: 1.2671
Previous Daily SMA20: 1.2752
Previous Daily SMA50: 1.2907
Previous Daily SMA100: 1.2941
Previous Daily SMA200: 1.3269
Previous Daily High: 1.2672
Previous Daily Low: 1.2477
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%: 1.2598
Previous Daily Fibonacci 61.8%: 1.2551
Previous Daily Pivot Point S1: 1.2541
Previous Daily Pivot Point S2: 1.2411
Previous Daily Pivot Point S3: 1.2346
Previous Daily Pivot Point R1: 1.2736
Previous Daily Pivot Point R2: 1.2802
Previous Daily Pivot Point R3: 1.2932