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

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

 

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 securities. 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 Forex 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.