OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD Technical Analysis: Once again fails near 100-hour SMA, 1.2670-75 supply zone

   •  For the second consecutive session, the pair struggled to build on its intraday positive momentum and started retreating from 100-hour SMA hurdle near the 1.2670-75 region.

   •  Technical indicators on hourly/daily charts have been recovering from the bearish territory but are still far from supporting prospects for any further near-term positive move.

GBP/USD 1-hourly chart

   •  Looking at the daily chart, the pair has been oscillating within a broader trading range over the past 1-1/2 week, suggesting indecision over the near-term trajectory.

   •  Hence, it would be prudent to wait for a decisive break through the mentioned trading band before traders start positioning for the pair's next leg of a directional move.

Daily chart

GBP/USD

Overview:
    Today Last Price: 1.2654
    Today Daily change: 0.0 pips
    Today Daily change %: 0.00%
    Today Daily Open: 1.2654
Trends:
    Previous Daily SMA20: 1.2663
    Previous Daily SMA50: 1.28
    Previous Daily SMA100: 1.29
    Previous Daily SMA200: 1.3199
Levels:
    Previous Daily High: 1.2676
    Previous Daily Low: 1.2616
    Previous Weekly High: 1.2708
    Previous Weekly Low: 1.2574
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2653
    Previous Daily Fibonacci 61.8%: 1.2639
    Previous Daily Pivot Point S1: 1.2622
    Previous Daily Pivot Point S2: 1.2589
    Previous Daily Pivot Point S3: 1.2562
    Previous Daily Pivot Point R1: 1.2681
    Previous Daily Pivot Point R2: 1.2708
    Previous Daily Pivot Point R3: 1.274

 

Global growth to ease marginally in 2019 – ABN AMRO

Han de Jong, chief economist at ABN AMRO, thinks that the factors that contributed to the slowing of growth in 2018 will be less forceful in 2019. Ke
Read more Previous

Norway Registered Unemployment n.s.a: 2.3% (January)

Norway Registered Unemployment n.s.a: 2.3% (January)
Read more Next
Start livechat