GBP/USD technical analysis: 50-HMA offers intermediate halt inside 25-pip range


  • Choppy between a small range with 50-HMA providing an additional filter.
  • 100-HMA is likely resistance to lure buyers past-1.2570.

Having failed to clear 1.2570, the GBP/USD pair rests on 50-HMA near 1.2555 while heading into the UK open on Wednesday.

Other than 50-hour moving average (50-HMA) Tuesday’s early tops near 1.2545 can also question the pair’s declines, if not 1.2505 should be on the bears’ call.

Given the pair’s extended downpour past-1.2505, December 2018 low of 1.2477 may opt for the comeback.

Meanwhile, 38.2% Fibonacci retracement and 100-HMA can hold the pair confined near 1.2605 if it manages to clear 1.2570 immediate upside barrier.

Furthermore, 50% and 61.8% Fibonacci retracements around 1.2632 and 1.2665 might entertain buyers ahead of challenging them with 1.2710.

GBP/USD hourly chart

Trend: Sideways

    1. R3 1.264
    2. R2 1.2603
    3. R1 1.258
  1. PP 1.2543
    1. S1 1.2521
    2. S2 1.2484
    3. S3 1.2461

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Growth concerns to keep weighing on the sentiment

The EUR/USD pair closed a second consecutive week unchanged around 1.1840, as the dollar got to appreciate ahead of the close on upbeat US data combined with risk-off. Sluggish global economic growth to keep weighing on the market’s sentiment.

EUR/USD News

GBP/USD: Brexit deal and coronavirus second wave leading the way

The GBP/USD pair stalled its weekly recovery on Friday, ending the day in the red at around 1.2915. Mild hopes related to a post-Brexit trade deal with the EU provided modest support to Sterling earlier in the week.

GBP/USD News

Gold: Next week's key macroeconomic events to keep an eye on

The troy ounce of the precious metal closed the week modestly higher at $1,950 but struggled to make a decisive move in either direction. Following its September policy meeting, the Federal Reserve kept its policy rate unchanged as ...

Gold News

It was the best of times, It was the worst of times

Economic reports from most of the major economies show the pace of the recovery has slowed.  In the same way, the recovery began before the end of the  Q2, the loss of economic momentum was seen as early as July in some series and August in others.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures