GBP/USD Technical Analysis: Short-side looking for a new weekly low at 1.3080

The GBP/USD is shifting into the downside just south of 1.3100 as the Sterling continues to weaken against the USD.
Hourly candles show the pair has broken below the 200-hour moving average, and the Cable is now challenging the week's bottom at 1.3083.
1-Hour technical indicators are pinning into oversold territory, and the Cable could be primed for a hop back up to the 200-hour moving average at 1.3150 before continuing lower.

Joshua Gibson FXStreet

GBP/USD Chart, 15-Minute

GBP/USD

Overview:
    Last Price: 1.3095
    Daily change: -21 pips
    Daily change: -0.160%
    Daily Open: 1.3116
Trends:
    Daily SMA20: 1.3114
    Daily SMA50: 1.2995
    Daily SMA100: 1.3097
    Daily SMA200: 1.3485
Levels:
    Daily High: 1.3194
    Daily Low: 1.3099
    Weekly High: 1.326
    Weekly Low: 1.3028
    Monthly High: 1.33
    Monthly Low: 1.2922
    Daily Fibonacci 38.2%: 1.3136
    Daily Fibonacci 61.8%: 1.3158
    Daily Pivot Point S1: 1.3078
    Daily Pivot Point S2: 1.3041
    Daily Pivot Point S3: 1.2983
    Daily Pivot Point R1: 1.3174
    Daily Pivot Point R2: 1.3232
    Daily Pivot Point R3: 1.3269

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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