GBP/USD Technical Analysis: Cable sinks to its lowest level since June 2017 as bears attack the 1.2600 figure

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 reached its lowest level since June 2017 as May could pull Brexit vote.

GBP/USD 4-hour chart

All indicators are in bearish mode.
The next support is seen at the 1.2561 level.

GBP/USD 30-minute chart

The momentum is bearish.
1.2652 and 1.2681 should be fairly strong resistance to the upside.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.2618
    Today Daily change: -1.2e+2 pips
    Today Daily change %: -0.973%
    Today Daily Open: 1.2742
Trends:
    Previous Daily SMA20: 1.2806
    Previous Daily SMA50: 1.2932
    Previous Daily SMA100: 1.2958
    Previous Daily SMA200: 1.3288
Levels:
    Previous Daily High: 1.2812
    Previous Daily Low: 1.271
    Previous Weekly High: 1.284
    Previous Weekly Low: 1.2659
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2749
    Previous Daily Fibonacci 61.8%: 1.2773
    Previous Daily Pivot Point S1: 1.2698
    Previous Daily Pivot Point S2: 1.2654
    Previous Daily Pivot Point S3: 1.2597
    Previous Daily Pivot Point R1: 1.2799
    Previous Daily Pivot Point R2: 1.2856
    Previous Daily Pivot Point R3: 1.29

Author

Flavio Tosti

Independent Analyst

GBP/USD holds gains below 1.3450 as markets bet on more BoE rate hikes

GBP/USD holds moderate gains but stays below 1.3450 in the European morning hours on Friday. The British Pound gains amid optimism on the UK government leadership transition and Bank of England rate hike bets. Meanwhile, the US Dollar loses ground on Middle East de-escalation and receding Fed rate hike expectations.

EUR/USD advances to 1.1450 on softer USD, ECB rate hike bets

EUR/USD advances to near 1.1450 in the early European hours on Friday, bolstered by a softer US Dollar. The European Central Bank is grappling with elevated core inflation, forcing traders to price in more aggressive tightening despite mixed guidance from ECB officials, lending support to the pair.

Gold: 21-day SMA is yet again the level to beat for XAU/USD bulls

Gold is defending the $4,100 level early Friday, trying hard to capitalize on this week’s rebound from four-day lows of $4,022 even as tensions in the Middle East appear to have somewhat eased. Despite the recent upswing, Gold remains on track to book a weekly loss, undermined by the revival of inflationary concerns.

Bitcoin recovers on easing US-Iran tensions; DeXe and Arbitrum rally

Bitcoin price rises above $63,000 extending its recovery as tensions between the US and Iran ease following missile strikes earlier this week. DeXe (DEXE) and Arbitrum (ARB) are leading gains over the last 24 hours as the broader market risk-off sentiment eases.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June Federal Open Market Committee meeting landed mid-round-trip, describing a world that had already stopped existing.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.