GBP/USD Technical Analysis: Bull flag breakout could pull away from 1.2800
|- GBP/USD is trading towards the upside, spurred on by a dovish Fed showing late on Wednesday, and bidders are looking to capitalize on continued Greenback weakness, marking in fresh intraday swingpoints as bulls try to mark in a new floor at the 1.2800 major technical level.
GBP/USD, 5-Minute
- The Cable has been exposed to plenty of fundamental-based volatility recently, getting whipped and spiked on various Brexit headlines, and taking a ride on the collapsing Greenback yesterday. High volatility but a lack of general direction has left the GBP/USD pairing broadly directionless in the near-term, cycling around the 200-period moving average near 1.2800.
GBP/USD, 30-Minute
- 4-Hour candles show the Cable may be in the middle of an upside breakout from a bullish flag, but stiff resistance from the 200-period moving average near 1.2925 could hamper progress to the upside if bidders are able to continue the US Dollar's bearish stance.
GBP/USD, 4-Hour
GBP/USD
Overview:
Today Last Price: 1.284
Today Daily change: 14 pips
Today Daily change %: 0.109%
Today Daily Open: 1.2826
Trends:
Previous Daily SMA20: 1.2909
Previous Daily SMA50: 1.2986
Previous Daily SMA100: 1.2986
Previous Daily SMA200: 1.3329
Levels:
Previous Daily High: 1.2848
Previous Daily Low: 1.2728
Previous Weekly High: 1.2928
Previous Weekly Low: 1.2764
Previous Monthly High: 1.326
Previous Monthly Low: 1.2696
Previous Daily Fibonacci 38.2%: 1.2802
Previous Daily Fibonacci 61.8%: 1.2774
Previous Daily Pivot Point S1: 1.2753
Previous Daily Pivot Point S2: 1.2681
Previous Daily Pivot Point S3: 1.2634
Previous Daily Pivot Point R1: 1.2873
Previous Daily Pivot Point R2: 1.292
Previous Daily Pivot Point R3: 1.2992
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.