GBP/USD Technical Analysis: Cable steady ahead of FOMC - 1.2880 bull target

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bear trend below the 200-day simple moving average (SMA)
GBP/USD is trading in a tight trading range for the 9th consecutive day.
The FOMC minutes scheduled at 19.00 GMT can lead to high volatility in the forex market.

GBP/USD 4-hour chart

GBP/USD has found support above the 1.2750 level.
Technical indicators are supportive for higher prices ahead.

GBP/USD 30-minute chart

GBP/USD is set to test Wednesday lows.
If Wednesday’s low is tested and holds it can be a potential buy opportunity to target 1.2880 to the upside.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.278
    Today Daily change: -46 pips
    Today Daily change %: -0.359%
    Today Daily Open: 1.2826
Trends:
    Previous Daily SMA20: 1.2909
    Previous Daily SMA50: 1.2986
    Previous Daily SMA100: 1.2986
    Previous Daily SMA200: 1.3329
Levels:
    Previous Daily High: 1.2848
    Previous Daily Low: 1.2728
    Previous Weekly High: 1.2928
    Previous Weekly Low: 1.2764
    Previous Monthly High: 1.326
    Previous Monthly Low: 1.2696
    Previous Daily Fibonacci 38.2%: 1.2802
    Previous Daily Fibonacci 61.8%: 1.2774
    Previous Daily Pivot Point S1: 1.2753
    Previous Daily Pivot Point S2: 1.2681
    Previous Daily Pivot Point S3: 1.2634
    Previous Daily Pivot Point R1: 1.2873
    Previous Daily Pivot Point R2: 1.292
    Previous Daily Pivot Point R3: 1.2992

Author

Flavio Tosti

Independent Analyst

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