GBP/USD Technical Analysis: Cable bulls challenge the 1.2800 figure on rumors of soft Brexit

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bear trend below the 50, 100 and 200-day simple moving average (SMA).
GBP/USD is trading near 4-month’s lows.

GBP/USD 4-hour chart

GBP/USD is currently testing the 1.2800 figure and the 100 SMA.

GBP/USD 30-minute chart

According to analysts, the recent intraday spike up above 1.2800 can be caused by some rumors of a second referendum or a softer Brexit.
Bulls need a break above 1.2800 on a daily closing basis to reach 1.2840 level or else the market might revisit 1.2720 support.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.2791
    Today Daily change: 60 pips
    Today Daily change %: 0.471%
    Today Daily Open: 1.2731
Trends:
    Previous Daily SMA20: 1.2831
    Previous Daily SMA50: 1.2944
    Previous Daily SMA100: 1.2964
    Previous Daily SMA200: 1.3298
Levels:
    Previous Daily High: 1.2798
    Previous Daily Low: 1.2672
    Previous Weekly High: 1.2864
    Previous Weekly Low: 1.2725
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.275
    Previous Daily Fibonacci 61.8%: 1.272
    Previous Daily Pivot Point S1: 1.2669
    Previous Daily Pivot Point S2: 1.2608
    Previous Daily Pivot Point S3: 1.2543
    Previous Daily Pivot Point R1: 1.2796
    Previous Daily Pivot Point R2: 1.286
    Previous Daily Pivot Point R3: 1.2922

Author

Flavio Tosti

Independent Analyst

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