GBP/USD Technical Analysis: Looking for a fresh break into 1.2800

This week opens with GBP/USD riding a couple of higher lows to continue intraday bullish moves, but the pairing is quickly running into immediate resistance from 1.2770 and the 1.2800 handle.

Joshua Gibson FXStreet

GBP/USD, 15-Minute

Near-term action on the Cable shows the pair maintaining a skewed stance towards the middle, with rough breaks to either side routinely getting faded back into the median as 1.2650 - 1.2700 remains a key congestion zone.

GBP/USD, 1-Hour

The 1.2750 region has proven to be a consistent tipping point for GBP/USD in recent months, and failure to break higher above the key level could see the Cable break lower once again.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2745
    Today Daily change: 7.0 pips
    Today Daily change %: 0.0550%
    Today Daily Open: 1.2738
Trends:
    Previous Daily SMA20: 1.265
    Previous Daily SMA50: 1.2773
    Previous Daily SMA100: 1.2898
    Previous Daily SMA200: 1.3155
Levels:
    Previous Daily High: 1.2746
    Previous Daily Low: 1.2615
    Previous Weekly High: 1.2815
    Previous Weekly Low: 1.2438
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Previous Daily Fibonacci 38.2%: 1.2696
    Previous Daily Fibonacci 61.8%: 1.2665
    Previous Daily Pivot Point S1: 1.2653
    Previous Daily Pivot Point S2: 1.2569
    Previous Daily Pivot Point S3: 1.2523
    Previous Daily Pivot Point R1: 1.2784
    Previous Daily Pivot Point R2: 1.283
    Previous Daily Pivot Point R3: 1.2914

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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