- Declines following Doji drags the GBP/USD pair to 21-DMA.
- Upside capped by 61.8% Fibonacci retracement, June 18 top may question sellers during the plunge.
GBP/USD portrays the aftermath of declines based on Monday's Doji candle while taking the rounds to 1.2670, near 21-DMA, while heading into the UK open on Wednesday.
Should sellers refrain from respecting the near-term moving average (MA), June 18 high near 1.2566 may act as an intermediate halt during the plunge towards the month’s bottom around 1.2506.
While 14-day relative strength index (RSI) is more likely to limit the pair’s declines past-1.2506, failure to do so highlights December 2018 low of 1.2480 and the year-to-date trough close to 1.2438 may lure the bears.
If bulls dominate past-1.2865, 50% Fibonacci retracement near 1.2909 and 200-day moving average (DMA) at 1.2923 could flash on their radars.
GBP/USD daily chart
Trend: Pullback expecte
Additional important levels
|Today last price||1.2668|
|Today Daily Change||-24 pips|
|Today Daily Change %||-0.19%|
|Today daily open||1.2692|
|Previous Daily High||1.2784|
|Previous Daily Low||1.2671|
|Previous Weekly High||1.275|
|Previous Weekly Low||1.2506|
|Previous Monthly High||1.3178|
|Previous Monthly Low||1.2559|
|Daily Fibonacci 38.2%||1.2714|
|Daily Fibonacci 61.8%||1.2741|
|Daily Pivot Point S1||1.2647|
|Daily Pivot Point S2||1.2602|
|Daily Pivot Point S3||1.2533|
|Daily Pivot Point R1||1.276|
|Daily Pivot Point R2||1.2829|
|Daily Pivot Point R3||1.2874|
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