• Pound bulls have poked the crucial demand zone in a 1.0905-1.0931 range.
  • A bull cross, represented by the 20 and 50-EMAs, adds to the upside filters.
  • The RSI (14) has shifted into the bullish range of 60.00-80.00, which favors an upside momentum.

The GBP/USD pair is displaying topsy-turvy moves around the immediate hurdle of 1.0900 in the early Asian session. Earlier, the cable displayed a perpendicular upside move after sensing a responsive buying action from 1.0540. The asset is aiming to refresh its weekly high above 1.0931 as risk sentiment has turned positive.

On an hourly scale, the cable has poked the demand zone placed in a narrow range of 1.0905-1.0931. The asset is not displaying signs of exhaustion after a juggernaut rally but is preparing for an upside break ahead as investors are pouring funds amid the establishment of an upside bias.

A bull cross, represented by the 20-and 50-period Exponential Moving Averages (EMAs) at 1.0764 signals more upside ahead.

Also, the Relative Strength Index (RSI) (14) has shifted into the bullish range of 60.00-80.00, which has activated pound bulls for upside momentum.

A break above Monday’s high at 1.0931 will send the cable towards the round-level resistance at 1.1000, followed by Friday’s average price at 1.1100.

On the flip side, the cable will lose significance further if it drops below Monday’s low at 1.0339, which will drag the asset towards the round-level support at 1.0200. A slippage below the latter will direct the cable towards parity.

GBP/USD hourly chart

GBP/USD

Overview
Today last price 1.0874
Today Daily Change 0.0142
Today Daily Change % 1.32
Today daily open 1.0732
 
Trends
Daily SMA20 1.1378
Daily SMA50 1.1758
Daily SMA100 1.2013
Daily SMA200 1.2628
 
Levels
Previous Daily High 1.0838
Previous Daily Low 1.0655
Previous Weekly High 1.1461
Previous Weekly Low 1.084
Previous Monthly High 1.2294
Previous Monthly Low 1.1599
Daily Fibonacci 38.2% 1.0768
Daily Fibonacci 61.8% 1.0725
Daily Pivot Point S1 1.0645
Daily Pivot Point S2 1.0559
Daily Pivot Point S3 1.0462
Daily Pivot Point R1 1.0829
Daily Pivot Point R2 1.0925
Daily Pivot Point R3 1.1012

 

 

 

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