GBP/USD Price Analysis: Monthly support line backs the bulls above 1.3300

  • GBP/USD bounces off two-week-old horizontal line to refresh intraday high.
  • Bullish MACD, sustained strength above 50-bar SMA favor buyers.

GBP/USD prints mild gains while rising to 1.3330, an intraday high of 1.3338, during early Tuesday. The Cable surged to the fresh high since early September the previous day before stepping back from 1.3397.

However, the following U-turn from a horizontal line connecting highs marked since November 11 joins bullish MACD to favor the pair buyers. Also supporting the odds of GBP/USD upside is the successful trading past-50-bar SMA.

As a result, the 1.3400 round-figure acts as an immediate upside hurdle for the GBP/USD buyers ahead of the yearly peak surrounding 1.3485.

In a case where the quote remains positive beyond 1.3485, the late-2019 top near 1.3515 could return to the charts.

Meanwhile, a downside break of 1.3310 immediate horizontal support will battle the ascending trend line from November 02, at 1.3262 now, before retesting the 50-bar SMA level of 1.3238. However, any more weakness below 1.3238 will direct GBP/USD sellers toward the November 12 low near the 1.3100 round-figure.

GBP/USD four-hour chart

Trend: Bullish

Additional important levels

Today last price 1.3328
Today Daily Change 10 pips
Today Daily Change % 0.08%
Today daily open 1.3318
Daily SMA20 1.3133
Daily SMA50 1.3008
Daily SMA100 1.299
Daily SMA200 1.2721
Previous Daily High 1.3398
Previous Daily Low 1.3264
Previous Weekly High 1.3312
Previous Weekly Low 1.3166
Previous Monthly High 1.3177
Previous Monthly Low 1.282
Daily Fibonacci 38.2% 1.3347
Daily Fibonacci 61.8% 1.3315
Daily Pivot Point S1 1.3255
Daily Pivot Point S2 1.3193
Daily Pivot Point S3 1.3122
Daily Pivot Point R1 1.3389
Daily Pivot Point R2 1.346
Daily Pivot Point R3 1.3522



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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD recaptures 0.7700 amid Risk-on mood, upbeat Aussie data

AUD/USD remains strongly bid above 0.7700 after Monday’s downbeat performance. The aussie benefits from upbeat Australian housing data and risk-on mood. Incoming Treasury Secretary Janet Yellen’s indirect support to Biden’s stimulus favors the risk-takers.


EUR/USD:Falling wedge on 4H tests bearish impulse below 1.2100

EUR/USD portrays choppy trading moves between 1.2075 and 1.2080 during Tuesday’s Asian session. Bullish chart pattern, recovering MACD keep buyers hopeful. Early February lows, 61.8% Fibonacci retracement add to the downside filters.


Gold: All eyes on the greenback and US yields

Gold prices are attempting to recover as te DXY stalls in its bullish correction. The dollar could still be a catalyst for a deeper positioning squeeze in the yellow metal. The US dollar strengthened for a third consecutive day on Monday.

Gold news

BTC/USD: Its a make or break at 36170

BTC/USD is trending up again in the 30 minutes time frame; the price structure has changed since the weekend selloff with higher highs and higher lows. Prices fell below the crucial point at 36170 in yesterday's session but bounced back.

Read more

US Dollar Index: Drops back towards fortnight-old support below 91.00

DXY extends pullback from highest in one month. The Index remains on the back foot around 90.68, down 0.10% intraday, during early Tuesday. Monday’s Doji at multi-day top, overbought RSI favor further consolidation of gains.

US Dollar Index News