GBP/USD Technical Analysis: Cable bears looking at 1.3150 ahead of Brexit vote

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bull trend above its main simple moving averages (SMAs).
At 19:30 GMT, the UK Parliament is going to decide whether the UK PM May's Brexit Plan is valid or not. If the Parliament doesn't approve it, the odds of a hard Brexit will increase greatly. This can lead to high volatility in GBP-related currency pairs.

GBP/USD 4-hour chart

GBP/USD is trading above its main SMAs suggesting a bullish momentum in the medium-term.

GBP/USD 30-minute chart

GBP/USD has been navigating in a 100-pip range between the 1.3150 and 1.3250 level.
Cable bears need a breakout below 1.3150 to reach 1.3100 and 1.3060 to the downside.
On the flip side, resistances are seen at 1.3250 and 1.3300 figure.

Additional key levels

GBP/USD

Overview
Today last price	1.3229
Today Daily Change	0.0021
Today Daily Change %	0.16
Today daily open	1.3208

Trends
Daily SMA20	1.3197
Daily SMA50	1.308
Daily SMA100	1.2919
Daily SMA200	1.2979

Levels
Previous Daily High	1.3263
Previous Daily Low	1.3158
Previous Weekly High	1.3312
Previous Weekly Low	1.3003
Previous Monthly High	1.3351
Previous Monthly Low	1.2773
Daily Fibonacci 38.2%	1.3223
Daily Fibonacci 61.8%	1.3198
Daily Pivot Point S1	1.3156
Daily Pivot Point S2	1.3104
Daily Pivot Point S3	1.305
Daily Pivot Point R1	1.3261
Daily Pivot Point R2	1.3315
Daily Pivot Point R3	1.3367

Author

Flavio Tosti

Independent Analyst

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.