GBP/USD Technical Analysis: Indecisive between 21-day SMA, 23.6% Fibo.

Back-to-back Doji candlesticks portray GBP/USD traders’ indecision.
Bearish MACD, gradual weakness keeps sellers hopeful.

Anil Panchal FXStreet

With the consecutive two Doji formations of the GBP/USD pair’s daily chart, the quote portrays traders’ indecision while taking rounds to 1.2850 amid Thursday’s Asian session.

Bearish signals from 12-bar Moving Average Convergence and Divergence (MACD), failure to cross 21-day Simple Moving Average (SMA) and a gradual downpour since October 21 favors the sellers.

However, the quote declines below 23.6% Fibonacci retracement of September-October upside, at 1.2765, become necessary to aim for 1.2700 and September month high near 1.2580.

Alternatively, pair’s upside clearance of 21-day SMA, at 1.2877 now, can propel prices to monthly top surrounding 1.2975 whereas 1.3000 and the October month high around 1.3015 could question bulls afterward.

GBP/USD daily chart

Trend: Sideways

additional important levels

Overview
Today last price	1.2855
Today Daily Change	3 pips
Today Daily Change %	0.02%
Today daily open	1.2852

Trends
Daily SMA20	1.2877
Daily SMA50	1.2586
Daily SMA100	1.2455
Daily SMA200	1.2704

Levels
Previous Daily High	1.2874
Previous Daily Low	1.2815
Previous Weekly High	1.2943
Previous Weekly Low	1.2769
Previous Monthly High	1.3013
Previous Monthly Low	1.2194
Daily Fibonacci 38.2%	1.2838
Daily Fibonacci 61.8%	1.2852
Daily Pivot Point S1	1.282
Daily Pivot Point S2	1.2788
Daily Pivot Point S3	1.276
Daily Pivot Point R1	1.2879
Daily Pivot Point R2	1.2907
Daily Pivot Point R3	1.2939

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold holds above $5,000 as bears seem hesitant amid Fed rate cut bets

Gold edges lower at the start of a new week, though it defends the $5,000 psychological mark through the Asian session. The underlying bullish sentiment is seen acting as a headwind for the bullion. However, bets for more rate cuts by the Fed, bolstered by Friday's softer US CPI, keep the US Dollar bulls on the defensive and continue to support the non-yielding yellow metal as the focus now shifts to FOMC Minutes on Wednesday.

Week ahead: Data blitz, Fed Minutes and RBNZ decision in the spotlight

The US jobs report for January, which was delayed slightly, didn’t do the dovish Fed bets any favours, as expectations of a soft print did not materialize, confounding the raft of weak job indicators seen in the prior week.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.