GBP/USD Technical Analysis: Reclaiming the 1.3000 handle, but key Fibo levels remain

The GBP/USD remains pinned to the 1.3000 handle after Thursday's 250-someodd pip rise on refreshed Brexit hopes, and the pair remains pushed into near-term highs.

Joshua Gibson FXStreet

GBP/USD M5

Hourly candles show the Cable has blown right past the 200-hour moving average at 1.2860, and the 50-hour moving average has inverted the pair's near-term bias, setting in a potential floor at the 1.2900 handle.

GBP/USD H1

The past three weeks have seen the Cable steeply off of early October's highs, and yesterday's trendline break sees the GBP/USD making a clean challenge of the 61.8% Fibo level neat 1.3030, and buyers could see challenges heading into Friday's action.

GBP/USD H4

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GBP/USD

Overview:
    Last Price: 1.3006
    Daily change: 1.0 pips
    Daily change: 0.00769%
    Daily Open: 1.3005
Trends:
    Daily SMA20: 1.3011
    Daily SMA50: 1.3019
    Daily SMA100: 1.3045
    Daily SMA200: 1.3436
Levels:
    Daily High: 1.3036
    Daily Low: 1.2762
    Weekly High: 1.3092
    Weekly Low: 1.2777
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.2932
    Daily Fibonacci 61.8%: 1.2867
    Daily Pivot Point S1: 1.2833
    Daily Pivot Point S2: 1.266
    Daily Pivot Point S3: 1.2558
    Daily Pivot Point R1: 1.3107
    Daily Pivot Point R2: 1.3209
    Daily Pivot Point R3: 1.3382

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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