GBP/USD Technical Analysis: Looking for an upside break, but 1.2800 stands in the way

Intraday bullish momentum for GBP/USD is beginning to bleed off, and the pair is struggling to break decisively higher, and the nearby 1.2800 major handle could prove to be significant resistance looking forward.

Joshua Gibson FXStreet

GBP/USD, 15-Minute

The Sterling is testing into a significant turnaround zone from the 1.2800 zone, and exaggerated moves from last week are breaking hourly candle technical setups as the Cable looks to move further upwards in choppy action.

GBP/USD, 1-Hour

GBP/USD has been grinding out a medium-term higher low on 4-hour candles, halting the slow slide from 2018's fourth quarter, but bullish momentum remains limited unless bidders can force a break into and through the major resistance zone from 1.2790 - 1.2850.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2774
    Today Daily change: 4.0 pips
    Today Daily change %: 0.0313%
    Today Daily Open: 1.277
Trends:
    Previous Daily SMA20: 1.2661
    Previous Daily SMA50: 1.2773
    Previous Daily SMA100: 1.2897
    Previous Daily SMA200: 1.3149
Levels:
    Previous Daily High: 1.2788
    Previous Daily Low: 1.2707
    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%: 1.2757
    Previous Daily Fibonacci 61.8%: 1.2738
    Previous Daily Pivot Point S1: 1.2722
    Previous Daily Pivot Point S2: 1.2674
    Previous Daily Pivot Point S3: 1.2642
    Previous Daily Pivot Point R1: 1.2803
    Previous Daily Pivot Point R2: 1.2835
    Previous Daily Pivot Point R3: 1.2883

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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