- GBP/USD seesaws around the monthly top, maintains a two-day-old trading range.
- 50-HMA adds strength to the range support.
- 1.2500, 50-day SMA offer immediate resistance.
Despite declining to 1.2457, GBP/USD stays inside a two-day-old trading range during the Asian session on Monday. In doing so, the cable pair seesaws around a one-month high flashed on Friday.
However, bearish MACD and repeated failures to cross 1.2500 round-figure seem to keep the sellers hopeful.
As a result, 1.2450/45 area including 50-HMA and the said range’s support, will be important to watch as a break of which could trigger fresh declines to 200-HMA level near 1.2365.
Meanwhile, the pair’s upside clearance of 1.2485 immediate resistance enables the buyers to once again aim for 1.2500.
Should there be a clear upside beyond 1.2500, the 50-day SMA level on the daily chart, close to 1.2575, will lure the bulls.
GBP/USD hourly chart
Additional important levels
|Today last price||1.246|
|Today Daily Change||7 pips|
|Today Daily Change %||0.06%|
|Today daily open||1.2453|
|Previous Daily High||1.2487|
|Previous Daily Low||1.2445|
|Previous Weekly High||1.2487|
|Previous Weekly Low||1.2165|
|Previous Monthly High||1.3201|
|Previous Monthly Low||1.1412|
|Daily Fibonacci 38.2%||1.2461|
|Daily Fibonacci 61.8%||1.2471|
|Daily Pivot Point S1||1.2436|
|Daily Pivot Point S2||1.242|
|Daily Pivot Point S3||1.2395|
|Daily Pivot Point R1||1.2478|
|Daily Pivot Point R2||1.2503|
|Daily Pivot Point R3||1.252|
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