- GBP/USD is retracing the Brexit-related spike to 1.2292.
- The level to beat for bears is the 1.2200 support.
- The FOMC Minutes are scheduled at 18:00 GMT.
GBP/USD daily chart
On the daily chart, the Cable is trading in a bear trend below the main daily simple moving averages (DSMAs). At the start of the day, GBP/USD jumped on reports of EU concession on the Irish backstop. The FOMC Minutes scheduled at 18:00 GMT can lead to some volatility on the currency pair.
GBP/USD four-hour chart
GBP/USD is back into the 1.2200/1.2226 support zone. A break below 1.2200 can expose the 1.2130 level to the downside, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
The Sterling is trading below the 100 and 200 SMAs, suggesting a bearish bias in the near term. Resistances are seen at the 1.2255 and 1.2280 price levels, according to the Technical Confluences Indicator.
Additional key levels
|Today last price||1.2223|
|Today Daily Change||0.0004|
|Today Daily Change %||0.03|
|Today daily open||1.2219|
|Previous Daily High||1.2303|
|Previous Daily Low||1.2194|
|Previous Weekly High||1.2414|
|Previous Weekly Low||1.2205|
|Previous Monthly High||1.2583|
|Previous Monthly Low||1.1958|
|Daily Fibonacci 38.2%||1.2236|
|Daily Fibonacci 61.8%||1.2261|
|Daily Pivot Point S1||1.2174|
|Daily Pivot Point S2||1.213|
|Daily Pivot Point S3||1.2065|
|Daily Pivot Point R1||1.2283|
|Daily Pivot Point R2||1.2347|
|Daily Pivot Point R3||1.2392|
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