GBP/USD technical analysis: Cable on a rollercoaster as Brexit drama unfolds

UK PM May is about to allow a free vote on a second referendum.
GBP/USD is regaining some strength after a massive selloff in the last weeks.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is finding some support after the selling of the last weeks. The main supports to the downside are seen at 1.2700 figure, 1.2670 swing low and 1.2550 level.

GBP/USD 4-hour chart

GBP/USD spiked above the 1.2800 figure.

GBP/USD 30-minute chart

GBP/USD is challenging the 1.2800 figure and the 200 SMA. The market will probably continue consolidating in the 1.2700-1.2800 band before any meaningful move in either direction. However, bulls seem to have regained some modest ground. A break above 1.2800 the figure can lead to 1.2880 resistance. Immediate support is at 1.2740 and 1.2860 level.

Additional key levels

USD/CAD

Overview
Today last price	1.3427
Today Daily Change	-0.0004
Today Daily Change %	-0.03
Today daily open	1.3431

Trends
Daily SMA20	1.3453
Daily SMA50	1.3394
Daily SMA100	1.3336
Daily SMA200	1.3248

Levels
Previous Daily High	1.346
Previous Daily Low	1.3416
Previous Weekly High	1.3514
Previous Weekly Low	1.34
Previous Monthly High	1.3522
Previous Monthly Low	1.3274
Daily Fibonacci 38.2%	1.3433
Daily Fibonacci 61.8%	1.3443
Daily Pivot Point S1	1.3411
Daily Pivot Point S2	1.3391
Daily Pivot Point S3	1.3366
Daily Pivot Point R1	1.3456
Daily Pivot Point R2	1.3481
Daily Pivot Point R3	1.3501

Author

Flavio Tosti

Independent Analyst

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