Slobodan Drvenica
Windsor Brokers
GBP/USD
Cable dropped to three-week low on Friday, after breaking below five-day congestion, capped by 1.40 barrier.
Fresh strength of the US dollar added pressure on sterling to extend pullback from new nearly three-year high (1.4238), with violation of 1.3869 (Fibo 23.6% of 1.2675/1.4238/range floor) and 1.3841 (rising 30DMA) generating fresh bearish signals.
Bears pressure 1.3800 (round figure support) eyeing 55DMA (1.3724) and more significant levels at 1.3641/39 (Fibo 38.2%/top of rising daily cloud).
Rising negative momentum and daily MA’s (10,20,30) in bearish setup support scenario, with US jobs data expected to be a key driver today.
Res: 1.3845; 1.3869; 1.3923; 1.3978
Sup: 1.3775; 1.3724; 1.3700; 1.3639
Interested in GBP/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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