• GBP/USD struggles to extend recovery moves from previous resistance line.
  • 100-DMA guards immediate upside, 50-DMA and 61.8% Fibonacci retracement follow the line.
  • Bullish MACD, sustained break of the key resistance line favor buyers.

GBP/USD seesaws around 1.3920-15 amid the initial Asian session on Wednesday. In doing so, the cable takes rounds to 50.0% Fibonacci retracement (Fibo.) of June–July downturn while keeping the previous day’s rebound from the resistance-turned-support line from June 01.

Given the bullish MACD and the pair’s ability to stay firmer past the earlier resistance line, GBP/USD may overcome the immediate hurdle, namely 100-DMA level of 1.3925 and 50-DMA close to 1.3935.

However, the pair’s further upside will be challenged by July’s top of 1.3983, 61.8% Fibo. near 1.3990 and mid-June top near 1.4010.

Meanwhile, the stated falling trend line, around 1.3865, restricts short-term GBP/USD downside ahead of June’s low near 1.3785.

If at all GBP/USD bears keep reins past 1.3785, 23.6% Fibo. surrounding 1.3730 and 1.3690 support level could challenge the fall towards the last month’s low of 1.3572.

GBP/USD: Daily chart

Trend: Pullback expected 

Additional important levels

Today last price 1.3916
Today Daily Change 0.0031
Today Daily Change % 0.22%
Today daily open 1.3885
Daily SMA20 1.3816
Daily SMA50 1.3942
Daily SMA100 1.3924
Daily SMA200 1.374
Previous Daily High 1.3933
Previous Daily Low 1.3876
Previous Weekly High 1.3984
Previous Weekly Low 1.3737
Previous Monthly High 1.3984
Previous Monthly Low 1.3572
Daily Fibonacci 38.2% 1.3897
Daily Fibonacci 61.8% 1.3911
Daily Pivot Point S1 1.3863
Daily Pivot Point S2 1.3841
Daily Pivot Point S3 1.3806
Daily Pivot Point R1 1.392
Daily Pivot Point R2 1.3955
Daily Pivot Point R3 1.3977



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 slumps toward 1.0150 after US NFP data

EUR/USD slumps toward 1.0150 after US NFP data

EUR/USD came under heavy bearish pressure and dropped toward 1.0150 in the American session on Friday. The data from the US showed that Nonfarm Payrolls rose by 528K in July, compared to the market expectation of 250K, and provided a boost to the greenback.


GBP/USD extends slide toward 1.2000 amid DXY rally

GBP/USD extends slide toward 1.2000 amid DXY rally

GBP/USD declined sharply toward 1.2000 on Friday after the impressive US July jobs report triggered a dollar rally. Nonfarm Payrolls grew at a much stronger pace than expected and annual wage inflation stayed unchanged at 5.2%, reviving hawkish Fed bets.


Gold plunges toward $1,770 amid surging yields

Gold plunges toward $1,770 amid surging yields

Gold turned south in the second half of the day on Friday and fell toward $1,770. After the US data showed Nonfarm Payrolls rose by 528,000 in July, the benchmark 10-year US Treasury bond yield gained more than 6%, weighing heavily on XAU/USD.

Gold News

Cardano price fractal strikes again per our prediction, here’s what’s next for ADA

Cardano price fractal strikes again per our prediction, here’s what’s next for ADA

Cardano price is ready to rally after triggering the same pattern for the fourth time in the last two months. This development could provide buyers and traders with a quick and easy setup to capitalize on.

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!