• 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
Daily SMA20 1.334
Daily SMA50 1.3157
Daily SMA100 1.3097
Daily SMA200 1.2753
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



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 Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD steadies near 1.0550, looks to post modest weekly gains

EUR/USD steadies near 1.0550, looks to post modest weekly gains

EUR/USD has lost its bullish momentum after having climbed above 1.0570 with the initial reaction to the US data in the American session and retreated toward the mid-1.0500s. On a weekly basis, the pair remains on track to close in positive territory. 


GBP/USD struggles to hold above 1.2300

GBP/USD struggles to hold above 1.2300

GBP/USD has edged lower following a jump above 1.2300 in the early American session on Friday. The market mood remains upbeat ahead of the weekend with Wall Street's main indexes posting strong daily gains on upbeat US data. 


Gold stays below $1,830 as US yields edge higher

Gold stays below $1,830 as US yields edge higher

Gold continues to fluctuate below $1,830 on Friday and looks to close the second straight week in negative territory. Fueled by the risk-positive market environment, the benchmark 10-year US Treasury bond yield is up more than 1% on the day, limiting XAU/USD's upside.

Gold News

Why Cardano could surprise over the weekend

Why Cardano could surprise over the weekend

ADA  set to close out the week with a gain on the workday trading week and over the weekend? Central banks signaled that the rate hike cycle is ending, meaning less stress and tight conditions for trading, opening up room for some upside potential with Cardano set to pop above $0.55 and test a significant cap.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!