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GBP/USD Price Analysis: Stays flat-lined around mid-1.4100s

  • GBP/USD wavers in the middle of 100-pips monthly trading range.
  • Upbeat Momentum favors another attempt to cross 200-HMA.
  • Friday’s low, monthly top act as extra filters.

GBP/USD pares the previous day’s losses around 1.4150 amid a quiet Asian session on Wednesday. In doing so, the cable pair remains between 1.4110 and 1.4200 region established since May-end.

However, the recent pick-up in the Momentum line could help the quote to again battle the 200-HMA level of 1.4166 before targeting the weekly high of 1.4190 and the range resistance near 1.4200.

If at all the GBP/USD prices remain firm beyond 1.4200, the monthly high, also the highest since April 2018 near 1.4250 will be in the spotlight.

Meanwhile, pullback moves may aim for 1.4130 before testing the stated range’s support close to 1.4110, quickly followed by the 1.4100 threshold.

During the quote’s weakness below 1.4100, the monthly low of 1.4082 may test GBP/USD bears ahead of directing them to the May 13 low near the 1.4000 psychological manget.

To sum up, GBP/USD seeks clear direction inside a 100-pips trading zone.

GBP/USD hourly chart

Trend: Sideways

Additional important levels

Overview
Today last price1.415
Today Daily Change-33 pips
Today Daily Change %-0.23%
Today daily open1.4183
 
Trends
Daily SMA201.4147
Daily SMA501.3974
Daily SMA1001.3905
Daily SMA2001.3556
 
Levels
Previous Daily High1.4191
Previous Daily Low1.4111
Previous Weekly High1.4249
Previous Weekly Low1.4083
Previous Monthly High1.4234
Previous Monthly Low1.3801
Daily Fibonacci 38.2%1.416
Daily Fibonacci 61.8%1.4142
Daily Pivot Point S11.4133
Daily Pivot Point S21.4082
Daily Pivot Point S31.4053
Daily Pivot Point R11.4212
Daily Pivot Point R21.4241
Daily Pivot Point R31.4292

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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