- GBP/USD extends bounce off 100-bar EMA, prints mild intraday gains.
- Normal RSI conditions, sustained trading beyond key moving average favor the bulls.
- Sellers need to refresh monthly low before retaking the controls.
GBP/USD picks up bids near 1.3340, up 0.11% intraday, during early Tuesday. The cable rose for the first time in the last three days on Monday before recently extending gains above 100-bar EMA.
The upside moves also benefit from the absence of overbought or oversold RSI conditions.
As a result, GBP/USD buyers are again targeting a falling trend line from December 04, at 1.3410 now. However, a clear upside beyond the same will be critical to watch.
Should the quote remains positive past-1.3410, odds of a fresh monthly high above 1.3539 can’t be ruled out.
Alternatively, a downside break below 100-bar EMA, currently around 1.3320, will direct the GBP/USD sellers toward 1.3250 and the monthly low near 1.3130.
Also acting as a downside filter is November’s trough surrounding 1.3100.
GBP/USD four-hour chart
Trend: Further upside expected
Additional important levels
|Today last price||1.3343|
|Today Daily Change||17 pips|
|Today Daily Change %||0.13%|
|Today daily open||1.3326|
|Previous Daily High||1.3446|
|Previous Daily Low||1.3225|
|Previous Weekly High||1.3478|
|Previous Weekly Low||1.3134|
|Previous Monthly High||1.3398|
|Previous Monthly Low||1.2854|
|Daily Fibonacci 38.2%||1.3361|
|Daily Fibonacci 61.8%||1.3309|
|Daily Pivot Point S1||1.3219|
|Daily Pivot Point S2||1.3112|
|Daily Pivot Point S3||1.2998|
|Daily Pivot Point R1||1.344|
|Daily Pivot Point R2||1.3553|
|Daily Pivot Point R3||1.3661|
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