- GBP/USD stays mildly positive above monthly support line (previous resistance).
- May 08 top can lure buyers past-50-day SMA.
- Monthly low, key Fibonacci retracements can keep sellers hopeful during fresh declines.
Despite stepping back from 50-day SMA the previous day, GBP/USD carries the break of monthly falling trend line while taking the bids near 1.2260 amid early Wednesday.
During the quote’s further rise past-1.2467, highs marked during the April month around 1.2640/50 will be the key.
Meanwhile, pair’s declines below the resistance-turned-support line of 1.236 can refresh the monthly low of 1.2075.
However, 50% and 61.8% Fibonacci retracement of the pair’s March-April rise, respectively around 1.2025 and 1.1880, can check the bears below 1.2075.
GBP/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||1.2256|
|Today Daily Change||3 pips|
|Today Daily Change %||0.02%|
|Today daily open||1.2253|
|Previous Daily High||1.2296|
|Previous Daily Low||1.2184|
|Previous Weekly High||1.2438|
|Previous Weekly Low||1.2102|
|Previous Monthly High||1.2648|
|Previous Monthly Low||1.2165|
|Daily Fibonacci 38.2%||1.2254|
|Daily Fibonacci 61.8%||1.2227|
|Daily Pivot Point S1||1.2193|
|Daily Pivot Point S2||1.2132|
|Daily Pivot Point S3||1.208|
|Daily Pivot Point R1||1.2305|
|Daily Pivot Point R2||1.2357|
|Daily Pivot Point R3||1.2417|
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