GBP/USD Technical Analysis: Bolstered at 1.3130 on Brexit hopes

The GBP/USD's intraday action over the last twenty-four hours has seen the pair clip into a new near-term high near 1.3175, but the pair has faded back heading into Thursday's main trading sessions, digging in just north of the 1.3100 handle.
GBP/USD analysis: Brexit optimism overshadows it all

Joshua Gibson FXStreet

GBP/USD M5

Over the past week, the Cable has lifted firmly on rising hopes for a successful Brexit negotiation, with yet another key self-imposed deadline of this Friday expected to reveal any kind of last-minute deal in proceedings, and the GBP has been bolstered by hopes for a last-minute deal, and the Cable has been rising in a healthy uptrend, lifting from the 200-period moving average.

GBP/USD M15

The Cable has pushed into a bullish reversal, crossing the 200-hour moving average and keeping bid above the 50-hour moving average near the 1.3100 handle.

GBP/USD H1

GBP/USD

Overview:
    Last Price: 1.3134
    Daily change: -3.0 pips
    Daily change: -0.0228%
    Daily Open: 1.3137
Trends:
    Daily SMA20: 1.2996
    Daily SMA50: 1.3031
    Daily SMA100: 1.3039
    Daily SMA200: 1.3414
Levels:
    Daily High: 1.3176
    Daily Low: 1.3074
    Weekly High: 1.3042
    Weekly Low: 1.2696
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.3137
    Daily Fibonacci 61.8%: 1.3112
    Daily Pivot Point S1: 1.3082
    Daily Pivot Point S2: 1.3027
    Daily Pivot Point S3: 1.298
    Daily Pivot Point R1: 1.3184
    Daily Pivot Point R2: 1.3231
    Daily Pivot Point R3: 1.3286

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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