GBP/USD Price Analysis: 19-day-old support line probes pullback from three-month top


  • GBP/USD trades in a choppy range around 1.3350-60.
  • Strong RSI conditions, not overbought, suggest further advances of the pair.
  • 21-day SMA adds to the downside filter, September high on bulls’ radars.

GBP/USD wavers around 1.3350, recently picking up bids near 1.3355, during early Friday. In doing so, the pair stops the previous day’s U-turn from the highest since September 02 while testing an upward sloping trend line from November 02.

With the RSI conditions a bit lower than the overbought, the latest recovery in the GBP/USD price can continue justifying the bounce from a strong support line towards the monthly high near 1.3400.

It should, however, be noted that the pair’s ability to cross the 1.3400 threshold will eye the fresh the yearly top, beyond September’s peak of 1.3482.

Meanwhile, a daily closing below the stated support line, at 1.3345 now, will take the quote towards a 21-day SMA level of 1.3198.

Though, GBP/USD traders need to break October’s top of 1.3176 to keep the reins past-1.3198.

GBP/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 1.3351
Today Daily Change -5 pips
Today Daily Change % -0.04%
Today daily open 1.3356
 
Trends
Daily SMA20 1.3191
Daily SMA50 1.3034
Daily SMA100 1.3014
Daily SMA200 1.2727
 
Levels
Previous Daily High 1.3398
Previous Daily Low 1.3322
Previous Weekly High 1.3312
Previous Weekly Low 1.3166
Previous Monthly High 1.3177
Previous Monthly Low 1.282
Daily Fibonacci 38.2% 1.3351
Daily Fibonacci 61.8% 1.3369
Daily Pivot Point S1 1.332
Daily Pivot Point S2 1.3283
Daily Pivot Point S3 1.3244
Daily Pivot Point R1 1.3396
Daily Pivot Point R2 1.3434
Daily Pivot Point R3 1.3471

 

 

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