GBP/USD Technical Analysis: Cable finding some footing near the 1.3000 figure as bulls want a Friday rally

  • GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart.
  • GBP/USD lost some ground in the last three days as bulls are trying to limit losses at the 1.3000 figure and 50 SMA. The decline seems to have run out of steam for the time being and upside pressure above 1.3050 can be on the cards on the last trading day of the week. 
  • A break below 1.3000 on a daily closing basis would see the bear trend resuming. 

GBP/USD 4-hour chart

Main trend:                      Bullish

Resistance 1:                  1.3050 figure
Resistance 2:                  1.3100 figure
Resistance 3:                  1.3150 figure
Resistance 4:                  1.3200 figure
Resistance 5:                  1.3259 October 12 high

Support 1:                      1.3000 figure
Support 2:                      1.2947 key resistance
Support 3:                      1.2921 October 4 low
Support 4:                      1.2900 figure
Support 5:                      1.2854 October 29

Additional key levels at a glance:


    Last Price: 1.303
    Daily change: -31 pips
    Daily change: -0.237%
    Daily Open: 1.3061
    Daily SMA20: 1.2987
    Daily SMA50: 1.3032
    Daily SMA100: 1.3037
    Daily SMA200: 1.3409
    Daily High: 1.3152
    Daily Low: 1.3045
    Weekly High: 1.3042
    Weekly Low: 1.2696
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.3086
    Daily Fibonacci 61.8%: 1.3111
    Daily Pivot Point S1: 1.302
    Daily Pivot Point S2: 1.2979
    Daily Pivot Point S3: 1.2914
    Daily Pivot Point R1: 1.3127
    Daily Pivot Point R2: 1.3192
    Daily Pivot Point R3: 1.3233


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