GBP/USD Price Analysis: Short-term ascending channel checks bears near 1.2350

  • GBP/USD remains below a one-week-old resistance line, 200-HMA.
  • Pair’s further weakness under the weekly low can challenge the month’s bottom.

GBP/USD remains modestly changed near 1.2350 amid the Asian session on Friday. That said, the pair stays below 200-HMA and a seven-day long falling trend line but inside a short-term rising trend channel.

Hence, sellers will wait for a clear break below the channel’s support, currently around 1.2330, before targeting the weekly bottom close to 1.2250/45.

In a case where the bears dominate past-1.2245, the month low of 1.2165 will become their favorite.

Alternatively, the immediate resistance line near 1.2395 seems to limit the pair’s pullback moves ahead of the channel’s upper line, at 1.2440, as well as a 200-HMA level of 1.2450.

If buyers manage to cross 1.2450, there are multiple barriers near 1.2520 and 1.2580 to challenge further advances.

GBP/USD hourly chart

Trend: Bearish

Additional important levels

Today last price 1.2347
Today Daily Change 2 pips
Today Daily Change % 0.02%
Today daily open 1.2345
Daily SMA20 1.241
Daily SMA50 1.2503
Daily SMA100 1.2788
Daily SMA200 1.2654
Previous Daily High 1.2415
Previous Daily Low 1.2308
Previous Weekly High 1.2648
Previous Weekly Low 1.2407
Previous Monthly High 1.3201
Previous Monthly Low 1.1412
Daily Fibonacci 38.2% 1.2374
Daily Fibonacci 61.8% 1.2349
Daily Pivot Point S1 1.2297
Daily Pivot Point S2 1.2249
Daily Pivot Point S3 1.219
Daily Pivot Point R1 1.2404
Daily Pivot Point R2 1.2463
Daily Pivot Point R3 1.2511



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