GBP/USD Technical Analysis: Sterling weakening below 1.2900 figure post-US CPI

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bear trend below the 200-day simple moving average (SMA).
The US Core Consumer Price Index (CPI) for the month of January came in at 0.2% in line with market expectations.

GBP/USD 4-hour chart

GBP/USD is trading below its main SMAs suggesting bearish momentum in the medium-term.

GBP/USD 30-minute chart

GBP/USD is trading between the 100 and 200 SMAs suggesting a sideways market in the short-term.
To the downside, support is seen at 1.2880 and 1.2840 levels.
Bulls have to break above 1.2960 to reach the 1.3000 figure.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.2895
    Today Daily change: -1 pips
    Today Daily change %: -0.01%
    Today Daily Open: 1.2896
Trends:
    Daily SMA20: 1.3002
    Daily SMA50: 1.2819
    Daily SMA100: 1.2885
    Daily SMA200: 1.3017
Levels:
    Previous Daily High: 1.291
    Previous Daily Low: 1.2833
    Previous Weekly High: 1.3103
    Previous Weekly Low: 1.2854
    Previous Monthly High: 1.3214
    Previous Monthly Low: 1.2438
    Daily Fibonacci 38.2%: 1.288
    Daily Fibonacci 61.8%: 1.2862
    Daily Pivot Point S1: 1.2849
    Daily Pivot Point S2: 1.2802
    Daily Pivot Point S3: 1.2771
    Daily Pivot Point R1: 1.2926
    Daily Pivot Point R2: 1.2957
    Daily Pivot Point R3: 1.3003

Author

Flavio Tosti

Independent Analyst

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