GBP/USD looks shy of regaining 1.4200, Brexit, UK data dump eyed
GBP/USD consolidates the heaviest jump since May 27 below 1.4200, around 1.4175 amid the early Asian session on Friday. The cable cheered receding pessimism over the Brexit and the US dollar weakness the previous day. However, bulls turn cautious ahead of multiple catalysts scheduled for publishing during the day.
|Today last price||1.4173|
|Today Daily Change||-0.0003|
|Today Daily Change %||-0.02|
|Today daily open||1.4176|
|Previous Daily High||1.4178|
|Previous Daily Low||1.4073|
|Previous Weekly High||1.4249|
|Previous Weekly Low||1.4083|
|Previous Monthly High||1.4234|
|Previous Monthly Low||1.3801|
|Daily Fibonacci 38.2%||1.4138|
|Daily Fibonacci 61.8%||1.4113|
|Daily Pivot Point S1||1.4107|
|Daily Pivot Point S2||1.4038|
|Daily Pivot Point S3||1.4002|
|Daily Pivot Point R1||1.4212|
|Daily Pivot Point R2||1.4247|
|Daily Pivot Point R3||1.4317|
Technical analysis: Will the GBP/USD retreat continue?
The GBPUSD technical analysis of the price chart on a 1-hour timeframe shows GBPUSD: H1 is rebounding to test the 200-period moving average MA(200) which is declining. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian channel at 1.4154. A level above this can be used as an entry point for placing a pending order to buy.
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