- GBP/USD is trading in a bear trend above the 200-period simple moving average on the 4-hour chart.
- GBP/USD is challenging the 1.2957 July 19 low key support level. If the bears can break this level a drop to 1.2921 October 4 low can be next.
- The RSI and MACD indicators are weak but the Stochastic is already in the oversold zone.
Main trend: Bullish
Resistance 1: 1.3000 figure
Resistance 2: 1.3050 figure
Resistance 3: 1.3100 figure
Resistance 4: 1.3150 figure
Resistance 5: 1.3200 figure
Resistance 6: 1.3259 October 12 high
Support 1: 1.2957 July 19 low, key support
Support 2: 1.2921 October 4 low
Support 3: 1.2900 figure
Support 4: 1.2854 October 29
Additional key levels at a glance:
GBP/USD
Overview:
Last Price: 1.2978
Daily change: -83 pips
Daily change: -0.635%
Daily Open: 1.3061
Trends:
Daily SMA20: 1.2987
Daily SMA50: 1.3032
Daily SMA100: 1.3037
Daily SMA200: 1.3409
Levels:
Daily High: 1.3152
Daily Low: 1.3045
Weekly High: 1.3042
Weekly Low: 1.2696
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.3086
Daily Fibonacci 61.8%: 1.3111
Daily Pivot Point S1: 1.302
Daily Pivot Point S2: 1.2979
Daily Pivot Point S3: 1.2914
Daily Pivot Point R1: 1.3127
Daily Pivot Point R2: 1.3192
Daily Pivot Point R3: 1.3233
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
GBP/USD remains on the defensive below 1.2450 ahead of UK Retail Sales data
GBP/USD remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar as the strong US economic data and hawkish remarks from the Fed officials have triggered the speculation that the US central bank will delay interest rate cuts to September.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Israel vs. Iran: Fear of escalation grips risk markets
Recent reports of an Israeli aerial bombardment targeting a key nuclear facility in central Isfahan have sparked a significant shift out of risk assets and into safe-haven investments.