GBP/USD technical analysis: 100-hour SMA, 1-week-old falling trendline limits immediate upside


  • 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

Trend: sideways

additional important levels

Overview
Today last price 1.2855
Today Daily Change -5 pips
Today Daily Change % -0.04%
Today daily open 1.286
 
Trends
Daily SMA20 1.2622
Daily SMA50 1.2436
Daily SMA100 1.2433
Daily SMA200 1.2715
 
Levels
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

 

 

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