GBP/USD Technical Analysis: How high is too high for Cable bulls?
|- GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart.
- GBP/USD is having a steep spike up to 1.3150. However, the market is overbought as per the RSI and Stochastic indicators suggesting that bulls might have overstretched themselves.
- A pullback down to 1.3100 and to 1.3050 might be in the making if bears keep the market below 1.3150.
Main trend: Bullish
Short-term: Bearish
Resistance 1: 1.3150 figure
Resistance 2: 1.3200 figure
Resistance 3: 1.3259 October 12 high
Support 1: 1.3100 figure
Support 2: 1.3043, October 23 high
Support 3: 1.3000 figure
Support 4: 1.2947 key resistance
Support 5: 1.2921 October 4 low
Support 6: 1.2900 figure
Support 7: 1.2854 October 29
Additional key levels at a glance:
GBP/USD
Overview:
Last Price: 1.3138
Daily change: 41 pips
Daily change: 0.313%
Daily Open: 1.3097
Trends:
Daily SMA20: 1.2998
Daily SMA50: 1.3029
Daily SMA100: 1.3039
Daily SMA200: 1.3419
Levels:
Daily High: 1.31
Daily Low: 1.3021
Weekly High: 1.3042
Weekly Low: 1.2696
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.307
Daily Fibonacci 61.8%: 1.3051
Daily Pivot Point S1: 1.3045
Daily Pivot Point S2: 1.2993
Daily Pivot Point S3: 1.2966
Daily Pivot Point R1: 1.3125
Daily Pivot Point R2: 1.3152
Daily Pivot Point R3: 1.3204
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