OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD Technical Analysis: Move beyond 200-hour SMA sets the stage for a test of 1.2700 handle

   •  After yesterday's late retracement, the pair regained positive traction on Tuesday and has now broken through over one-week-old descending trend-line resistance.

   •  Bullish technical indicators on the 1-hourly chart coupled with a sustained move beyond 200-hour SMA sets the stage for additional intraday positive momentum.

   •  Only a decisive weakness back below the descending trend-line resistance break-point, currently near the 1.2630-20 region, might negate the constructive outlook.

GBP/USD 1-hourly chart

GBP/USD

Overview:
    Today Last Price: 1.266
    Today Daily change: 49 pips
    Today Daily change %: 0.389%
    Today Daily Open: 1.2611
Trends:
    Previous Daily SMA20: 1.2722
    Previous Daily SMA50: 1.288
    Previous Daily SMA100: 1.2926
    Previous Daily SMA200: 1.325
Levels:
    Previous Daily High: 1.2647
    Previous Daily Low: 1.2574
    Previous Weekly High: 1.276
    Previous Weekly Low: 1.2477
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2619
    Previous Daily Fibonacci 61.8%: 1.2602
    Previous Daily Pivot Point S1: 1.2574
    Previous Daily Pivot Point S2: 1.2537
    Previous Daily Pivot Point S3: 1.25
    Previous Daily Pivot Point R1: 1.2648
    Previous Daily Pivot Point R2: 1.2684
    Previous Daily Pivot Point R3: 1.2721

 

USD/JPY: Immediate bias neutral - Commerzbank

Karen Jones, analyst at Commerzbank, points out that the USD/JPY has sold off to the 3 month uptrend at 112.44 and while this holds this keeps the ran
Read more Previous

Hong Kong SAR Unemployment rate remains unchanged at 2.8% in November

Hong Kong SAR Unemployment rate remains unchanged at 2.8% in November
Read more Next
Start livechat