GBP/USD Technical Analysis: Intraday positive momentum stalls near 200-hour SMA

Haresh Menghani FXStreet

• The intraday positive momentum faced rejection at 200-hour SMA, with the pair quickly retreating over 25-30 pips from an intraday high level of 1.2687.

• Technical indicators on the daily chart are yet to catch up with the latest leg of a positive move and seemed to be the only factor capping additional gains.

• Meanwhile, oscillators on the 1-hourly chart have also started losing positive momentum but have still managed to hold in the bullish territory.

• Hence, it would be prudent to wait for a strong follow-through buying beyond 200-hour SMA before positioning for any further near-term up-move.

GBP/USD 1-hourly chart

GBP/USD

Overview:
    Today Last Price: 1.2654
    Today Daily change: -17 pips
    Today Daily change %: -0.134%
    Today Daily Open: 1.2671
Trends:
    Previous Daily SMA20: 1.2752
    Previous Daily SMA50: 1.2907
    Previous Daily SMA100: 1.2941
    Previous Daily SMA200: 1.3269
Levels:
    Previous Daily High: 1.2672
    Previous Daily Low: 1.2477
    Previous Weekly High: 1.284
    Previous Weekly Low: 1.2659
    Previous Monthly High: 1.3176
    Previous Monthly Low: 1.2723
    Previous Daily Fibonacci 38.2%: 1.2598
    Previous Daily Fibonacci 61.8%: 1.2551
    Previous Daily Pivot Point S1: 1.2541
    Previous Daily Pivot Point S2: 1.2411
    Previous Daily Pivot Point S3: 1.2346
    Previous Daily Pivot Point R1: 1.2736
    Previous Daily Pivot Point R2: 1.2802
    Previous Daily Pivot Point R3: 1.2932

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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