GBP/USD Price Analysis: Mildly bid above 1.2900 after Friday’s Doji


  • GBP/USD refreshes intraday high after the recent bullish candlestick formation on D1.
  • Bullish MACD, sustained trading beyond 100-day SMA also favor the buyers.
  • 50-day SMA offers immediate resistance ahead of 1.3077/82 confluence.

GBP/USD takes the bids near 1.2936, an intraday high of 1.2938, as markets in Tokyo open for trading. The pair rises following its formation of the bullish candlestick pattern on the daily (D1) chart the previous day.

The bullish MACD conditions and the pair’s successful trading above 100-day SMA are extra price-positive signals that favor the GBP/USD bulls.

As a result, the quote can again confront a 50-day SMA level of 1.3011 during its further upside. However, a confluence of the monthly top and 50% Fibonacci retracement of the September month downside, near 1.3077/82, will question the additional rise of the pair.

Meanwhile, Friday’s low and 100-day SMA, respectively around 1.2860 and 1.2840, can limit short-term declines of GBP/USD.

It should, however, be noted that a clear downside break of 1.2840 will direct sellers towards the previous month’s low near 1.2675.

GBP/USD daily chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 1.2926
Today Daily Change 8 pips
Today Daily Change % 0.06%
Today daily open 1.2918
 
Trends
Daily SMA20 1.2891
Daily SMA50 1.3017
Daily SMA100 1.2837
Daily SMA200 1.271
 
Levels
Previous Daily High 1.2962
Previous Daily Low 1.2864
Previous Weekly High 1.3083
Previous Weekly Low 1.2863
Previous Monthly High 1.3482
Previous Monthly Low 1.2676
Daily Fibonacci 38.2% 1.2925
Daily Fibonacci 61.8% 1.2901
Daily Pivot Point S1 1.2867
Daily Pivot Point S2 1.2816
Daily Pivot Point S3 1.2768
Daily Pivot Point R1 1.2965
Daily Pivot Point R2 1.3013
Daily Pivot Point R3 1.3064

 

 

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