GBP/USD technical analysis: 21-DMA limits immediate declines

  • 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.

On the contrary, 61.8% Fibonacci Retracement of January to March 2019 upside, at 1.2800, is likely a strong resistance for buyers to conquer in order to aim for April month low near 1.2865.

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
Daily SMA20 1.2667
Daily SMA50 1.2808
Daily SMA100 1.2952
Daily SMA200 1.2925
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



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD hovers around 1.1130 in dull session, ECB eyed

The EUR/USD pair has recovered from a fresh weekly low of 1.1105 but remains depressed. Market players now waiting for ECB’s monetary policy, the last one presided by Mario Draghi.


GBP/USD attempting to recover after parliament slowed down the Brexit process

GBP/USD is moving up toward 1.29, trying to recover after parliament rejected the fast-track process that PM Johnson wanted for approving his Brexit deal. An extension to Article 50 and elections are on the cards.


USD/JPY struggles below mid-108.00s, over one-week lows

The Greenback held weaker against its Japanese counterpart, with the USD/JPY pair struggling below mid-108.00s, or over one-week lows set earlier this Wednesday.


Gold climbs higher toward $1,500 on risk-aversion

The XAU/USD pair gained traction on Wednesday and rose toward the upper-limit of its two-week-old range near the critical $1,500 handle supported by risk-off flows.

Gold News

If you are a "Hodler" here is where you could find support in Bitcoin

Today the price of Bitcoin fell and the price is now headed toward the 7,310.00 support used as a resistance zone on the week of the 3rd September 2018.

Read more