GBP/USD Price Analysis: Cable is back to testing the daily lows


  • GBP/USD pushes lower once again as the dollar catches a bid in late US trade.
  • The last wave low stopped at 1.2725 and the pair met resistance at 1.2850.

GBP/USD 4-Hour Chart

Cable is once again under pressure in late US trade.

The price has really struggled over the last week even as the US dollar lost ground elsewhere.

This is interesting as the EUR has gained against both GBP and USD. This, in turn, means its largely a EUR move.

The majority of GBP weakness came after the UK government stated the UK would be prepared to leave the EU without a deal.

Looking at the technicals now, if the pound does get some relief 1.2865 could be an area where the price meets some resistance.

On the downside, the key level remains the previous wave low at 1.2725.

GBP/USD technical analysis

Additional Levels

GBP/USD

Overview
Today last price 1.2747
Today Daily Change -0.0073
Today Daily Change % -0.57
Today daily open 1.282
 
Trends
Daily SMA20 1.2953
Daily SMA50 1.3024
Daily SMA100 1.2988
Daily SMA200 1.2701
 
Levels
Previous Daily High 1.292
Previous Daily Low 1.2726
Previous Weekly High 1.3018
Previous Weekly Low 1.2726
Previous Monthly High 1.3204
Previous Monthly Low 1.2726
Daily Fibonacci 38.2% 1.28
Daily Fibonacci 61.8% 1.2846
Daily Pivot Point S1 1.2724
Daily Pivot Point S2 1.2628
Daily Pivot Point S3 1.253
Daily Pivot Point R1 1.2918
Daily Pivot Point R2 1.3016
Daily Pivot Point R3 1.3112

 

 

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