GBP/USD remains defensive below 1.3850, UK job data eyed
GBP/USD extends the previous day’s sluggish momentum and trades quietly on Tuesday morning. After testing the high of 1.3888 on Friday, the pair continued to remain submissive near 1.3850.
|Today last price||1.381|
|Today Daily Change||0.0000|
|Today Daily Change %||0.00|
|Today daily open||1.381|
|Previous Daily High||1.3913|
|Previous Daily Low||1.3804|
|Previous Weekly High||1.3889|
|Previous Weekly Low||1.3726|
|Previous Monthly High||1.3958|
|Previous Monthly Low||1.3602|
|Daily Fibonacci 38.2%||1.3846|
|Daily Fibonacci 61.8%||1.3871|
|Daily Pivot Point S1||1.3771|
|Daily Pivot Point S2||1.3733|
|Daily Pivot Point S3||1.3662|
|Daily Pivot Point R1||1.3881|
|Daily Pivot Point R2||1.3952|
|Daily Pivot Point R3||1.399|
GBP/USD downside eyeing space south of $1.38 to $1.3751
In the shape of a hammer candlestick formation (bullish signal), supply-turned demand at $1.3629-1.3456 on the weekly timeframe stepped forward in July. The aforementioned zone, as you can see, remains active, welcoming an additional test mid-August. Yet, pattern traders will also note August’s move closed south of a double-top pattern’s neckline at $1.3664, consequently broadcasting a bearish warning.
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