- GBP/USD remains above 1.2800 ever since it recovered from the same on Thursday.
- A near-term symmetrical triangle formation could challenge bearish MACD.
Although the recent trading pattern of the GBP/USD pair portrays weakness, the quote stays above 1.2800 mark, not to mention the continuation of the immediate symmetrical triangle. By the press time of Pre-London open on Tuesday, the quote takes the bids to 1.2855.
The pair needs to rise past-100-hour Simple Moving Average (SMA) and one-week-old falling trend line, around 1.2860/62, to aim for weekly top close to 1.2950 and the monthly high near 1.3013.
Alternatively, pair’s declines below an ascending trend line since October 17, at 1.2800 now, could justify bearish signals from 12-bar Moving Average Convergence and Divergence (MACD).
In doing so, 1.2750 and 61.8% Fibonacci retracement of current month advances, at 1.2704, will be sellers’ immediate choice.
Also, the pair’s extended downpour below 1.2700 seems to pave the pair’s downpour to 1.2620 and 1.2560 numbers to the south.
GBP/USD hourly chart
additional important levels
|Today last price||1.2855|
|Today Daily Change||-5 pips|
|Today Daily Change %||-0.04%|
|Today daily open||1.286|
|Previous Daily High||1.2878|
|Previous Daily Low||1.2811|
|Previous Weekly High||1.3013|
|Previous Weekly Low||1.2787|
|Previous Monthly High||1.2583|
|Previous Monthly Low||1.1958|
|Daily Fibonacci 38.2%||1.2852|
|Daily Fibonacci 61.8%||1.2836|
|Daily Pivot Point S1||1.2822|
|Daily Pivot Point S2||1.2783|
|Daily Pivot Point S3||1.2755|
|Daily Pivot Point R1||1.2888|
|Daily Pivot Point R2||1.2916|
|Daily Pivot Point R3||1.2955|
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.