GBP/USD Price Analysis: Bulls battle key hurdle around 1.4100


  • GBP/USD stays inside a choppy range near 1.4100.
  • One-week-old horizontal area, short-term falling trend line guards immediate upside.
  • MACD conditions suggest bulls rolling up the sleeves.
  • Sustained trading above key support lines, 100-SMA favor buyers.

GBP/USD bounces off intraday low to 1.4095, keeping late Friday’s 10-pip trading range, amid Monday’s Asian session. In doing so, the cable stays near the short-term horizontal and trend line hurdle amid the receding bearish bias of the MACD.

Other than the MACD conditions, the quote’s successful trading above immediate support lines and 100-SMA also back the GBP/USD bulls.

Hence, GBP/USD buyers are waiting for a clear break above 1.4115 to refresh the monthly top, also the highest since late February, near 1.4165. However, the pair’s further upside needs to cross the 1.4200 threshold before targeting the yearly peak surrounding 1.4245.

Alternatively, pullback moves may aim for a one-week-old support line near 1.4050 before challenging the 1.4000 round figure and the monthly trend line support close to 1.3975.

Also acting as the key support is the 100-SMA level of 1.3960, as well as the multiple tops marked during early May around 1.3930.

GBP/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price 1.4097
Today Daily Change -1 pip
Today Daily Change % -0.01%
Today daily open 1.4098
 
Trends
Daily SMA20 1.3956
Daily SMA50 1.3876
Daily SMA100 1.3814
Daily SMA200 1.3475
 
Levels
Previous Daily High 1.4111
Previous Daily Low 1.4036
Previous Weekly High 1.4166
Previous Weekly Low 1.3982
Previous Monthly High 1.4009
Previous Monthly Low 1.3669
Daily Fibonacci 38.2% 1.4082
Daily Fibonacci 61.8% 1.4065
Daily Pivot Point S1 1.4052
Daily Pivot Point S2 1.4007
Daily Pivot Point S3 1.3977
Daily Pivot Point R1 1.4127
Daily Pivot Point R2 1.4156
Daily Pivot Point R3 1.4202

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD struggles around 1.19 amid Fed-fueled dollar strength

EUR/USD is under pressure around 1.19, as the dollar remains on the offensive following the Federal Reserve's hawkish decision on Wednesday. The bank is set to debate cutting down its bond buys and signaled raising rates sooner than anticipated. 

EUR/USD News

GBP/USD tumbles below 1.39 on weak UK data, dollar strength

GBP/USD has been extending its decline, sliding under 1.39. UK retail sales disappointed with -1.4% in May and the rapid spread of the Delta variant in the UK is also weighing on sterling. The US dollar remain robust after the Fed's hawkish decision.

GBP/USD News

GBP/USD tumbles below 1.39 on weak UK data, dollar strength

GBP/USD has been extending its decline, sliding under 1.39. UK retail sales disappointed with -1.4% in May and the rapid spread of the Delta variant in the UK is also weighing on sterling. The US dollar remain robust after the Fed's hawkish decision.

GBP/USD News

Ripple fears of a major decline are unwarranted

XRP price remains locked in a range between the psychologically important $1.00 and the neckline of a multi-year inverse head-and-shoulders pattern at $0.76. However, a lack of technical clues leaves frothy forecasts on the sideline until directional confirmation can be gleaned from the charts.

Read more

Where next for markets after the Fed shocker

The Fed surprised markets with an abrupt hawkish shift that has triggered substantial volatility in currency markets. Valeria Bednarik and Yohay Elam explain the surprise, discuss technical level, the next moves in FX and beyond.

Read more

Forex MAJORS

Cryptocurrencies

Signatures