GBP/USD Technical Analysis: Constrained in a sluggishly bearish chart pattern, lacking a major trend

GBP/USD is seeing apprehensive drift ahead of Friday's major market sessions, knocking into 1.2750 but remaining trapped firmly within

Joshua Gibson FXStreet

GBP/USD, 5-Minute

The past couple of weeks have been a ranging affair for the Cable, but swing highs remain capped off at the 1.2800 handle while swing lows continue to tread into fresh territory.

GBP/USD, 30-Minute

Indecision has marked the Cable for the past couple of months as the major chart pattern squeezes into a sideways pattern, and current action is getting clamped between the 50-period MA at 1.2770 and major support from the 1.2700 handle, but bidders face the field disadvantage with the 200-period MA capping off any breaks to the upside from 1.2850.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2771
    Today Daily change: -17 pips
    Today Daily change %: -0.133%
    Today Daily Open: 1.2788
Trends:
    Previous Daily SMA20: 1.2818
    Previous Daily SMA50: 1.2938
    Previous Daily SMA100: 1.2962
    Previous Daily SMA200: 1.3293
Levels:
    Previous Daily High: 1.2812
    Previous Daily Low: 1.2699
    Previous Weekly High: 1.2864
    Previous Weekly Low: 1.2725
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2769
    Previous Daily Fibonacci 61.8%: 1.2742
    Previous Daily Pivot Point S1: 1.272
    Previous Daily Pivot Point S2: 1.2653
    Previous Daily Pivot Point S3: 1.2607
    Previous Daily Pivot Point R1: 1.2833
    Previous Daily Pivot Point R2: 1.2879
    Previous Daily Pivot Point R3: 1.2947

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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