GBP/USD
Cable remains under pressure on Monday and probes again through 100DMA (1.3508) which contained Friday’s drop (the pair was down 0.5% for the day) as pound came under increased pressure from better than expected US jobs data which inflated dollar.
Fresh weakness cracks next pivotal supports at 1.3497/92 (daily cloud top / 50% retracement of 1.3357/1.3627 rally) with daily close below here to further weaken near-term structure and confirm lower top at 1.3627 (Feb 3 high) and expose supports at 1.3461/21 (Fibo 61.8% and 76.4% of 1.3357/1.3627 respectively).
Daily RSI is heading south and 14-d momentum remains in the negative territory, adding to bearish signals.
Session high at 1.3552 (reinforced by 20DMA) marks solid resistance which should keep the upside protected and keep near-term bears in play.
Res: 1.3524; 1.3552; 1.3564; 1.3600.
Sup: 1.3490; 1.3461; 1.3421; 1.3400.
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.
Recommended Content
Editors’ Picks
AUD/USD bounces from 0.6850 as China's PMIs return to expansion

AUD/USD is bouncing from the 0.6850 area, as bulls find support from the expansion reported in the Chinese NBS PMIs. The US dollar clings to recent gains amid a cautious market mood, awaiting the critical US PCE inflation.
USD/JPY advances towards 137.00 amid firmer DXY and mixed Japan data

The USD/JPY pair is aiming to recapture its fresh 23-year high around 137.00 as the DXY has strengthened on hawkish commentary from Fed chair Jerome Powell. Japan’s mixed Industrial production data has weakened the yen bulls further.
Gold stays on the way to $1,807 support ahead of US PCE inflation

Gold Price struggles to defend the previous day’s bounce off short-term key support during Thursday’s Asian session. In doing so, the yellow metal remains indecisive around $1,818. The yellow metal dropped to the lowest levels in two weeks the previous day.
Polygon's MATIC price signals hard times to come, here's why

FXStreet Premium users exceed expectations
_XtraSmall.png)
Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!