Pound Sterling Price News and Forecast: GBP/USD downside contained at 1.3320

FXStreet Team FXStreet

GBP/USD Price Analysis: 19-day-old support line probes pullback from three-month top

GBP/USD wavers around 1.3350, recently picking up bids near 1.3355, during early Friday. In doing so, the pair stops the previous day’s U-turn from the highest since September 02 while testing an upward sloping trend line from November 02.

With the RSI conditions a bit lower than the overbought, the latest recovery in the GBP/USD price can continue justifying the bounce from a strong support line towards the monthly high near 1.3400.

GBP/USD downside contained at 1.3320, returns above 1.3350

The sterling has been rejected on its first attempt to break 1.3400 on Thursday’s early trading and the pair retreated to session lows at 1.3320 where it has found support to return to the mid-range of 1.3300.

The pound is losing ground on a thinned Thanksgiving session, retreating from 12-week highs after having rallied in eight out of the last nine trading days. The lack of progress on the Brexit negotiations is undermining GBP bulls while the talks continue in an attempt to bring positions closer in key issues.

GBP/USD

Overview
Today last price	1.3354
Today Daily Change	-0.0002
Today Daily Change %	-0.01
Today daily open	1.3356

Trends
Daily SMA20	1.3191
Daily SMA50	1.3034
Daily SMA100	1.3014
Daily SMA200	1.2727

Levels
Previous Daily High	1.3398
Previous Daily Low	1.3322
Previous Weekly High	1.3312
Previous Weekly Low	1.3166
Previous Monthly High	1.3177
Previous Monthly Low	1.282
Daily Fibonacci 38.2%	1.3351
Daily Fibonacci 61.8%	1.3369
Daily Pivot Point S1	1.332
Daily Pivot Point S2	1.3283
Daily Pivot Point S3	1.3244
Daily Pivot Point R1	1.3396
Daily Pivot Point R2	1.3434
Daily Pivot Point R3	1.3471

Author

FXStreet Team

FXStreet

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