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

Overview
Today last price 1.2836
Today Daily Change -11 pips
Today Daily Change % -0.09%
Today daily open 1.2847
 
Trends
Daily SMA20 1.3144
Daily SMA50 1.2972
Daily SMA100 1.2698
Daily SMA200 1.2735
 
Levels
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

 

 

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