GBP/USD Technical Analysis: Exposed to further downside from 1.2600

The Sterling is flatlining ahead of Monday's London market open, trading into Friday's 38.2% Fibo retracement level, with intraday resistance baked-in at the 61.8 level near 1.2612.

Joshua Gibson FXStreet

GBP/USD, 5-Minute

Cable volatility on Brexit headlines remains a key factor in the GBP's market moves, but increasing investor unease over Brexit conditions leaves the Cable prone to downside moves that struggle to develop real momentum in bullish recoveries.

GBP/USD, 30-Minute

In the medium-term, the Cable is firmly bearish, and last week's bullish pickup from new 20-month lows at 1.2470 failed to recover the pair's early-week losses from 1.2750.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2585
    Today Daily change: 4.0 pips
    Today Daily change %: 0.0318%
    Today Daily Open: 1.2581
Trends:
    Previous Daily SMA20: 1.2734
    Previous Daily SMA50: 1.2889
    Previous Daily SMA100: 1.2931
    Previous Daily SMA200: 1.3256
Levels:
    Previous Daily High: 1.2676
    Previous Daily Low: 1.2529
    Previous Weekly High: 1.276
    Previous Weekly Low: 1.2477
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2585
    Previous Daily Fibonacci 61.8%: 1.262
    Previous Daily Pivot Point S1: 1.2515
    Previous Daily Pivot Point S2: 1.2449
    Previous Daily Pivot Point S3: 1.2369
    Previous Daily Pivot Point R1: 1.2662
    Previous Daily Pivot Point R2: 1.2742
    Previous Daily Pivot Point R3: 1.2808

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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