- GBP/USD is trying to fall below the low established in May at 1.2560.
- A daily close below 1.2560 (May low) would open the doors to 1.2500 handle.
- GBP/USD hit a low of 1.1253 which was not seen since January 2019.
GBP/USD daily chart
GBP/USD in a bear trend below its main simple moving averages. The market is attempting to break below the lowest point in May at 1.2560. Investors will be on the lookout to see if the market can close Monday below this level.
The market remains under bearish pressure near 1.260 and the main simple moving averages (SMAs). Bullish activity has been pretty scarce as bears are bears are in control.
Starling tested the 1.2600 handle and 50 SMA and the bears stepped in. A daily close below 1.2560 would be seen as very bearish with a potential continuation towards 1.2500. Resistance is at 1.2600 and 1.2650 level.
|Today last price||1.2562|
|Today Daily Change||-0.0032|
|Today Daily Change %||-0.25|
|Today daily open||1.2594|
|Previous Daily High||1.269|
|Previous Daily Low||1.2579|
|Previous Weekly High||1.2759|
|Previous Weekly Low||1.2579|
|Previous Monthly High||1.3178|
|Previous Monthly Low||1.2559|
|Daily Fibonacci 38.2%||1.2621|
|Daily Fibonacci 61.8%||1.2647|
|Daily Pivot Point S1||1.2552|
|Daily Pivot Point S2||1.251|
|Daily Pivot Point S3||1.2441|
|Daily Pivot Point R1||1.2662|
|Daily Pivot Point R2||1.2731|
|Daily Pivot Point R3||1.2773|
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