OctaFX | OctaFX Forex Broker
Open trading account
Back

GBP/USD Technical Analysis: No end in sight for December's consolidation range

  • After jaunts up and down the charts, GBP/USD finds itself trading the week roughly back where it started, near 1.2650.

GBP/USD, 15-Minute

  • December has been hall-marked by consolidation for the Cable, broken up by frequent whipsaws that tend to go nowhere over time, leaving the major pair biased towards the middle.

GBP/USD, 1-Hour

  • The previous quarter shows GBP/USD in a firm downtrend, likely due to continuous bearish pressure from Brexit proceedings, and although the last couple of swing lows could be supporting a medium-term bullish reversal, traders will be waiting for a decisive break of levels beyond 1.2700 before hopping into any major bidding positions.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2636
    Today Daily change: 1.0 pips
    Today Daily change %: 0.00791%
    Today Daily Open: 1.2635
Trends:
    Previous Daily SMA20: 1.265
    Previous Daily SMA50: 1.2775
    Previous Daily SMA100: 1.2898
    Previous Daily SMA200: 1.3162
Levels:
    Previous Daily High: 1.2648
    Previous Daily Low: 1.2438
    Previous Weekly High: 1.2778
    Previous Weekly Low: 1.2616
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Previous Daily Fibonacci 38.2%: 1.2568
    Previous Daily Fibonacci 61.8%: 1.2518
    Previous Daily Pivot Point S1: 1.2499
    Previous Daily Pivot Point S2: 1.2363
    Previous Daily Pivot Point S3: 1.2289
    Previous Daily Pivot Point R1: 1.271
    Previous Daily Pivot Point R2: 1.2784
    Previous Daily Pivot Point R3: 1.292

 

FX Today: Yen slips on Japan’s jawboning; UK services PMI, Eurozone CPI and US NFP – key

Forex today in Asia cheered the return of full markets, as the Japanese markets opened for 2019, bringing in some currency jawboning. The top Japanese
Read more Previous

AUD/USD clings to gains above 0.70 handle but lacks follow-through

   •  Built on the overnight solid comeback, led by broad-based USD weakness.     •  Renewed optimism over US-China trade talks provided an additiona
Read more Next
Start livechat