- GBP/USD is trading just below 1.2645 strong resistance.
- GBP/USD is turning bullish as the market is trading at fresh weekly highs.
Cable has been appreciating ahead of the release of the FOMC report. Market participants will be on the lookout for any hints from the Federal Reserve regarding interest rates policy.
GBP/USD daily chart
GBP/USD is in a bear trend below its main simple moving averages. The market has been rebounding sharply from 1.2500 figure gaining more than a 100 pips since Tuesday.
The market almost reached 1.2645 which is a strong resistance according to the Technical Confluences Indicator. If broken Cable can pop to 1.2712. To the downside, the market can find support at 1.2560 and 1.2480 level.
GBP/USD is trading above its main SMAs suggesting a bullish bias in the short term. The 1.2645 level is seen as strong resistance and there seems to be little resistance to 1.2712 if the market breaks to the upside.
|Today last price||1.2624|
|Today Daily Change||0.0066|
|Today Daily Change %||0.53|
|Today daily open||1.2558|
|Previous Daily High||1.2566|
|Previous Daily Low||1.2506|
|Previous Weekly High||1.2759|
|Previous Weekly Low||1.2579|
|Previous Monthly High||1.3178|
|Previous Monthly Low||1.2559|
|Daily Fibonacci 38.2%||1.2543|
|Daily Fibonacci 61.8%||1.2529|
|Daily Pivot Point S1||1.2521|
|Daily Pivot Point S2||1.2484|
|Daily Pivot Point S3||1.2461|
|Daily Pivot Point R1||1.258|
|Daily Pivot Point R2||1.2603|
|Daily Pivot Point R3||1.264|
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 assets. 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 Open Markets 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.