GBP/USD technical analysis: Clings to 4H 100MA 10-day long support-line


  • Downside confined by 10-day long ascending trend-line and 4H 100MA.
  • An upside break of 1.2760/65 becomes necessary to lure buyers.

GBP/USD remains modestly flat around 100-bar moving average (4H 100MA) and 10-day long support-line as it trades near 1.2675 while heading into the UK open on Friday.

A downside break of 1.2660 trend-line can trigger selling pressure towards 1.2600 and the latest lows surrounding 1.2560.

In a case where prices keep trading beneath 1.2560, December 2018 lows near 1.2480 and the year 2019 bottom around 1.2430 can flash on the bear’s radar.

During the pair’s U-turn, 1.2715 may act as the closest resistance ahead of highlighting the 1.2760/65 horizontal area comprising multiple highs since mid-May.

If the quote rallies past-1.2765, 1.2830 and 61.8% Fibonacci retracement near 1.2860 may offer stops to its north-run targeting a cross of 1.2900 round-figure.

GBP/USD 4-Hour chart

Trend: Sideways

    1. R3 1.2747
    2. R2 1.2728
    3. R1 1.2701
  1. PP 1.2681
    1. S1 1.2654
    2. S2 1.2635
    3. S3 1.2608

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD bouncing modestly on disappointing US Consumer Confidence

The shared currency remains pressured by the idea that the ECB will come out with massive stimulus measures in September. US Michigan Consumer Confidence down to 92.1 brakes dollar's gains.

EUR/USD News

GBP/USD retreats sharply after approaching 1.2200

The GBP/USD pair came under selling pressure after flirting with weekly highs, as a dismal US confidence report brought back risk-off. GBP/USD still up for the week and above the critical 1.2100 level.

GBP/USD News

USD/JPY: Greenback makes modest progress against Yen, near 106.30

The demand for Yen as a safe-haven currency has been weak in the last three days. The levels to beat for bulls are at the 106.30 and 106.55 resistances.

USD/JPY News

Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •