GBP/USD technical analysis: The end of the bloodbath as 1.2700 provide some relief ?

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD has been trading steeply down in the last two weeks. The major supports to the downside are seen at 1.2700 figure, 1.2670 swing low and 1.2550 figure.

GBP/USD 4-hour chart

GBP/USD is below its main SMAs.

GBP/USD 30-minute chart

GBP/USD is currently consolidating above the 1.2700 figure. Cable is trading below its 100 and 200 SMA while above the 50 SMA. It is unclear if the bears will give it another go to the downside or if the market will be stabilizing above 1.2700. A recovery would put 1.2760 to the test followed by 1.2800 figure. Supports are at 1.2700 and 1.2670 levels.

Additional key levels

GBP/USD

Overview
Today last price	1.2742
Today Daily Change	0.0031
Today Daily Change %	0.24
Today daily open	1.2711

Trends
Daily SMA20	1.2963
Daily SMA50	1.3062
Daily SMA100	1.3017
Daily SMA200	1.2958

Levels
Previous Daily High	1.2809
Previous Daily Low	1.2711
Previous Weekly High	1.3042
Previous Weekly Low	1.2711
Previous Monthly High	1.3196
Previous Monthly Low	1.2865
Daily Fibonacci 38.2%	1.2748
Daily Fibonacci 61.8%	1.2772
Daily Pivot Point S1	1.2678
Daily Pivot Point S2	1.2646
Daily Pivot Point S3	1.258
Daily Pivot Point R1	1.2776
Daily Pivot Point R2	1.2842
Daily Pivot Point R3	1.2874

Author

Flavio Tosti

Independent Analyst

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