GBP/USD technical analysis: Brexit optimism pushes the Cable above the 1.2800 handle

Brexit headlines send GBP/USD above the 1.2800 handle.
GBP/USD leaps above 1.28 as DUP reportedly accepts Brexit proposals on consent.

Flavio Tosti Independent Analyst

GBP/USD daily chart

The Sterling, on the daily chart, is trading above the 200-day simple moving average (DSMA). GBP/USD leaps above 1.28 as DUP reportedly accepts Brexit proposals on consent.

GBP/USD four-hour chart

GBP/USD is extending the bull run above the 1.2800 handle while trading above its main SMAs. As bulls keep the pressure on the next resistance can be seen at the 1.2900 and 1.3000 figure.

GBP/USD 30-minute chart

The Sterling is trading above its main SMAs, suggesting bullish momentum in the near term. Support is seen at the 1.2800 and 1.2700 figure, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2845
Today Daily Change	0.0061
Today Daily Change %	0.48
Today daily open	1.2784

Trends
Daily SMA20	1.2405
Daily SMA50	1.2293
Daily SMA100	1.2413
Daily SMA200	1.2714

Levels
Previous Daily High	1.2801
Previous Daily Low	1.2602
Previous Weekly High	1.2707
Previous Weekly Low	1.2194
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2725
Daily Fibonacci 61.8%	1.2678
Daily Pivot Point S1	1.2657
Daily Pivot Point S2	1.253
Daily Pivot Point S3	1.2458
Daily Pivot Point R1	1.2856
Daily Pivot Point R2	1.2928
Daily Pivot Point R3	1.3056

Author

Flavio Tosti

Independent Analyst

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.