GBP/USD outlook: Sterling remains in red for the second day following upbeat US NFP

Cable remains under pressure on Monday and probes again through 100DMA (1.3508) which contained Friday’s drop (the pair was down 0.5% for the day) as pound came under increased pressure from better than expected US jobs data which inflated dollar.

Fresh weakness cracks next pivotal supports at 1.3497/92 (daily cloud top / 50% retracement of 1.3357/1.3627 rally) with daily close below here to further weaken near-term structure and confirm lower top at 1.3627 (Feb 3 high) and expose supports at 1.3461/21 (Fibo 61.8% and 76.4% of 1.3357/1.3627 respectively). Read more...

GBPUSD

GBP/USD: Still room for a move to 1.3645 – UOB

In opinion of FX Strategists at UOB Group, Cable could still advance further and revisits the 1.3645 level in the short-term horizon.

24-hour view: “GBP pulled back to a low of 1.3505 last Friday before closing on a soft note at 1.3525 (-0.54%). While downward momentum has not improved by much, the pullback in GBP could dip below 1.3500 first before stabilization is likely. The next support at 1.3470 is unlikely to come under threat. On the upside, a break of 1.3590 (minor resistance is at 1.3560) would indicate that the current weakness has stabilized.” Read more...

GBP/USD to face renewed bearish pressure with a drop below 1.3520

The GBP/USD pair is having a difficult time making a decisive move in either direction early Monday but a drop below 1.3520 could attract sellers, according to FXStreet’s Eren Sengezer.

“The Fibonacci 38.2% retracement level of the latest uptrend seems to have formed support at 1.3520. In case GBP/USD falls below that level and starts using it as resistance, 1.3500 (Fibonacci 50% retracement, 50-period SMA on the four-hour chart) aligns as the next bearish target before 1.3460 (Fibonacci 61.8% retracement).” Read more...

GBP/USD

Overview
Today last price 1.3516
Today Daily Change -0.0015
Today Daily Change % -0.11
Today daily open 1.3531
 
Trends
Daily SMA20 1.356
Daily SMA50 1.3436
Daily SMA100 1.3511
Daily SMA200 1.3712
 
Levels
Previous Daily High 1.3615
Previous Daily Low 1.3505
Previous Weekly High 1.3628
Previous Weekly Low 1.3387
Previous Monthly High 1.3749
Previous Monthly Low 1.3358
Daily Fibonacci 38.2% 1.3547
Daily Fibonacci 61.8% 1.3573
Daily Pivot Point S1 1.3486
Daily Pivot Point S2 1.344
Daily Pivot Point S3 1.3375
Daily Pivot Point R1 1.3596
Daily Pivot Point R2 1.366
Daily Pivot Point R3 1.3706

 

 

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