- GBP/USD lacks a clear directional bias with prices trapped in the 1.3196-1.3312 range.
- A close below 1.3196 would imply a reversal lower.
GBP/USD is currently trading unchanged on the day near 1.3245, having faced rejection above 1.33 twice in the past seven trading days.
The stalled rally from Nov. 2 lows near 1.2850 will likely resume if the pair ends above 1.3312, invalidating the buyer fatigue signaled by the long upper wick attached to Wednesday's candle.
Alternatively, a close below 1.3196 would negate the buy-the-dip mentality sentiment signaled by Thursday's long-tailed candle and open the doors to deeper declines.
The immediate support is located at 1.3105 (Nov. 13 low) followed by the Nov. 2 low of 1.2854.
|Today last price||1.3255|
|Today Daily Change||-0.0019|
|Today Daily Change %||-0.14|
|Today daily open||1.3274|
|Previous Daily High||1.3279|
|Previous Daily Low||1.3196|
|Previous Weekly High||1.3314|
|Previous Weekly Low||1.3107|
|Previous Monthly High||1.3177|
|Previous Monthly Low||1.282|
|Daily Fibonacci 38.2%||1.3247|
|Daily Fibonacci 61.8%||1.3228|
|Daily Pivot Point S1||1.322|
|Daily Pivot Point S2||1.3166|
|Daily Pivot Point S3||1.3137|
|Daily Pivot Point R1||1.3304|
|Daily Pivot Point R2||1.3333|
|Daily Pivot Point R3||1.3387|
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