GBP/USD technical analysis: Cable spikes to 1.2800 on reports of a draft Brexit deal

GBP/USD is extending the bull run flirting with the 1.2800 handle.
GBP/USD leaps to 1.2750 on reports of a draft Brexit deal.

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD, on the daily chart, is attempting a bullish reversal above the 200-day simple moving average (DSMA). This Tuesday, GBP/USD leaps to 1.2750 on reports of a draft Brexit deal.

GBP/USD four-hour chart

GBP/USD is extending the null move to the 1.2800 handle while trading above its main SMAs. If bulls overcome the 1.2700 figure the next target can be located at the 1.2800 round number.

GBP/USD 30-minute chart

The Sterling is trading above the main SMAs, suggesting bullish momentum in the near term. Support is seen at the 1.2700 figure and the 1.2543/30 support zone, according to the Technical Confluences Indicator.

Additional key levels

GBP/USD

Overview
Today last price	1.2776
Today Daily Change	0.0170
Today Daily Change %	1.35
Today daily open	1.2606

Trends
Daily SMA20	1.2391
Daily SMA50	1.2281
Daily SMA100	1.2412
Daily SMA200	1.2714

Levels
Previous Daily High	1.265
Previous Daily Low	1.2515
Previous Weekly High	1.2707
Previous Weekly Low	1.2194
Previous Monthly High	1.2583
Previous Monthly Low	1.1958
Daily Fibonacci 38.2%	1.2567
Daily Fibonacci 61.8%	1.2599
Daily Pivot Point S1	1.253
Daily Pivot Point S2	1.2455
Daily Pivot Point S3	1.2395
Daily Pivot Point R1	1.2666
Daily Pivot Point R2	1.2726
Daily Pivot Point R3	1.2801

Author

Flavio Tosti

Independent Analyst

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