Cable is consolidating under new nearly five-month high at 1.3013, posted on Wednesday's initial probe through psychological 1.30 barrier. Today's action so far showed shallow dip, keeping immediate focus at 1.3017 Fibo barrier (76.4% of 1.3514/1.1409), but overbought daily techs continue to warn. Bids are seen at 1.2915/1.2887 (rising 5DMA / Fibo 23.6% of 1.2479/1.3013), with deeper pullback to find footstep above 1.2813/00 zone (former high / Fibo 38.2% / rising 10DMA) to keep bulls intact. Firm break above 1.3000/17 pivots would open way towards targets at 1.3199 (9 Mar high) and 1.3209 (2020 high, posted on 31 Jan). Only break below 1.2800 would sideline bulls and signal deeper pullback.
Res: 1.3000; 1.3017; 1.3050; 1.3100
Sup: 1.2944; 1.2915; 1.2887; 1.2813
Interested in GBP/USD technicals? Check out the key levels
- R3 1.3138
- R2 1.3076
- R1 1.3036
- PP 1.2974
- S1 1.2935
- S2 1.2873
- S3 1.2833
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