GBP/USD Technical Analysis: Near-term bullish correction capped near 1.2600

The Sterling is already drifting back into intraday support from the 38.2% Fibo level just shy of 1.2600 as GBP/USD eases away from Wednesday's peak reached in a run-up from 1.2477.

Joshua Gibson FXStreet

GBP/USD, 5-Minute

In the near-term, the Cable could be geared for another step lower after failing to recover beyond the 61.8% Fibo retracement of the last swing high at 1.2685.

GBP/USD, 30-Minute

A significant line in the sand has been drawn at the 1.2700 level, which could see any further bull moves rejected flat-out as the Cable grinds into a new sideways pattern.

GBP/USD, 4-Hour

GBP/USD

Overview:
    Today Last Price: 1.2617
    Today Daily change: -54 pips
    Today Daily change %: -0.426%
    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

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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