GBP/USD Technical Analysis: 100-hour SMA to limit any subsequent fall below 23.6% Fibo. level

   •  Having failed to make it through a four-month-old descending trend-line hurdle, the pair witnessed some profit-taking and the downfall accelerated after dismal UK retail sales data.

GBP/USD daily chart

   •  The intraday corrective slide seems to have found some support ahead of 23.6% Fibonacci retracement level of this week's 1.2668 to 1.3000 strong upsurge amid a subdued USD action.

   •  Technical indicators on the 1-hourly chart have slipped below the mid-point but continue to hold in the bullish territory on 4-hourly/daily chart, suggesting some dip-buying interest.

1-hourly chart

   •  Hence, any subsequent fall below the mentioned support near the 1.2925 area might be seen as a buying opportunity and is more likely to be limited by 100-hour SMA support.


    Today Last Price: 1.2938
    Today Daily change: -49 pips
    Today Daily change %: -0.385%
    Today Daily Open: 1.2988
    Daily SMA20: 1.275
    Daily SMA50: 1.2752
    Daily SMA100: 1.2892
    Daily SMA200: 1.3099
    Previous Daily High: 1.3002
    Previous Daily Low: 1.2832
    Previous Weekly High: 1.2866
    Previous Weekly Low: 1.2704
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Daily Fibonacci 38.2%: 1.2937
    Daily Fibonacci 61.8%: 1.2897
    Daily Pivot Point S1: 1.288
    Daily Pivot Point S2: 1.2771
    Daily Pivot Point S3: 1.271
    Daily Pivot Point R1: 1.3049
    Daily Pivot Point R2: 1.311
    Daily Pivot Point R3: 1.3219


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