• GBP/USD reverses the previous day’s pullback from two-month top.
  • Bulls seem to have exhausted beyond 50-SMA, MACD hints at pullback.
  • Horizontal resistance line from November joins triangle’s upper line to test bulls.

GBP/USD pares the previous day’s losses around 1.3580 amid Tuesday’s Asian session.

In doing so, the cable pair picks up bids inside short-term ascending triangle formation. However, steady RSI and sluggish MACD joins the pair’s failures to stay beyond 1.3600 keep sellers hopeful.

While the current advances eye 1.3600 threshold, the upper line of the stated triangle from December 31 and a horizontal line comprising multiple levels marked since November, highlight the 1.3610 level as the key hurdle.

Should the quote rises past 1.3610, which becomes less likely, a run-up towards November’s high near 1.3700 can’t be ruled out.

On the flip side, pullback moves may initially aim for the triangle’s lower line near 1.3550. Though, bears remain unconvinced beyond the 50-SMA level of 1.3530. Also acting as a downside filter is the latest December’s swing low near 1.3480 and the 200-SMA level of 1.3355.

Overall, GBP/USD pair’s inability to stay firmer around multi-day top teases sellers.

GBP/USD: Four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 1.358
Today Daily Change 0.0001
Today Daily Change % 0.01%
Today daily open 1.3579
 
Trends
Daily SMA20 1.3418
Daily SMA50 1.3397
Daily SMA100 1.3555
Daily SMA200 1.3739
 
Levels
Previous Daily High 1.3604
Previous Daily Low 1.3532
Previous Weekly High 1.3599
Previous Weekly Low 1.3431
Previous Monthly High 1.355
Previous Monthly Low 1.3161
Daily Fibonacci 38.2% 1.356
Daily Fibonacci 61.8% 1.3577
Daily Pivot Point S1 1.354
Daily Pivot Point S2 1.35
Daily Pivot Point S3 1.3468
Daily Pivot Point R1 1.3611
Daily Pivot Point R2 1.3643
Daily Pivot Point R3 1.3682

 

 

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 extends slide toward mid-1.0200s after US data

EUR/USD extends slide toward mid-1.0200s after US data

EUR/USD continues to decline toward 1.0250 during the American trading hours on Friday. After the data published by the UOM showed that the long-run inflation outlook rose to 3% in August from 2.9% in July, the dollar gathered strength against its rivals, weighing on the pair.

EUR/USD News

GBP/USD pushes lower 1.2100 on broad dollar strength

GBP/USD pushes lower 1.2100 on broad dollar strength

GBP/USD is trading deep in negative territory near 1.2100 during the American session on Friday. With the UoM's Consumer Sentiment Survey pointing to a modest increase in the long-run inflation outlook, the US Dollar Index extended its rally, reflecting a broad dollar strength.

GBP/USD News

Gold clings to modest gains above $1,790

Gold clings to modest gains above $1,790

Gold stays relatively resilient on Friday and trades modestly higher on the day above $1,790. Although the greenback continues to outperform its rivals on the latest US data, falling US Treasury bond yields help XAU/USD hold in positive territory.

Gold News

Shiba Inu ready to go ballistic: Shiba Eternity released in Vietnam

Shiba Inu ready to go ballistic: Shiba Eternity released in Vietnam

Shytoshi Kusama, the project leader of Shiba Inu announced the launch of Shiba Eternity for Vietnamese players. The game is available for testing and the team has asked users for their review. 

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!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures