GBP/USD Price Analysis: 200-day EMA returns to the bears’ radars

  • GBP/USD drops 100-pips after rising to 1.2919 at the week’s start.
  • Bearish MACD favors the sellers, 50% of Fibonacci retracement can offer immediate support.
  • Bulls await a clear break of August month’s low to confirm entries.

GBP/USD prints 0.20% intraday loss while declining to 1.2820 during Tuesday’s Asian trading. In doing so, the Cable defies the previous day’s recovery moves amid downbeat MACD signals.

The bearish momentum also takes clues from the pair’s inability to cross the previous month’s low during the latest run-up.

As a result, sellers are currently targeting a 50% Fibonacci retracement of May-September upside, near 1.2780. However, a 200-day EMA level of 1.2751 will question the bears afterward.

Should the quote remains weak past-1.2751, the early-July top near 1.2670 may return to the chart.

On the contrary, a successful break of August month’s low near 1.2980 becomes necessary to convince the buyers before directing them to the 1.3000 threshold.

GBP/USD daily chart

Trend: Further weakness expected

Additional important levels

Today last price 1.2836
Today Daily Change -11 pips
Today Daily Change % -0.09%
Today daily open 1.2847
Daily SMA20 1.3144
Daily SMA50 1.2972
Daily SMA100 1.2698
Daily SMA200 1.2735
Previous Daily High 1.2919
Previous Daily Low 1.2777
Previous Weekly High 1.3279
Previous Weekly Low 1.2763
Previous Monthly High 1.3396
Previous Monthly Low 1.2982
Daily Fibonacci 38.2% 1.2865
Daily Fibonacci 61.8% 1.2831
Daily Pivot Point S1 1.2776
Daily Pivot Point S2 1.2705
Daily Pivot Point S3 1.2634
Daily Pivot Point R1 1.2919
Daily Pivot Point R2 1.299
Daily Pivot Point R3 1.3061



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD fuelled 0.2% by strong PMI Composite in early Asia

AUD is up on the day so far as early data gives the bulls a head start. Early Asia has been kind to Aussie bulls with the price of the currency extending its late New York gains with a robust Construction PMI report, solidly above the 50.0 expansion level, arriving at 54.2.


NZD/USD bullish bets above 0.6690 marked down by CPI miss

NZD/USD bulls have been stopped in their tracks by the miss in the CPI data. The US dollar found a lease of life on Wall Street, bulls encouraged by data. New Zealand's CPI was released in recent trade which has changed the bird's flight trajectory in early Asia.


Gold: Bears seeking a continuation below key daily support

Gold prices are back under pressure and below a critical trendline on the daily chart. The swing trading opportunities are caught up in the wash of volatility. A day trading strategy could offer an opportunity if price obeys market structure.

Gold News

2020 US Elections: The final presidential debate

The second and final presidential debate between Donald Trump and Joe Biden promises to be a political event of the first magnitude. Mr. Biden leads i

Read more

WTI bulls keep the fuell buring into Wall Street close

West Texas Intermediate crude oil is higher on the day, although has run into resistance and started to consolidate.

Oil News