GBP/USD Technical Analysis: Headed back towards challenging 200-hour SMA stiff resistance

Haresh Menghani FXStreet

• The pair finally broke out of its Asian session consolidation phase and was now seen building on the momentum further beyond the 1.2600 handle.

• Technical indicators on the 1-hourly chart have been gaining traction and remained supportive of the ongoing up-move amid a modest USD retracement.

• However, oscillators on 4-hourly/daily charts are yet to move out of the bearish territory and hence, any subsequent might remain capped near the 200-hour SMA.

GBP/USD 1-hourly chart

GBP/USD

Overview:
    Today Last Price: 1.2627
    Today Daily change: 46 pips
    Today Daily change %: 0.366%
    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

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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