GBP/USD reversal targeting 1.3168 weekly support? [Video]
Watch the video for a summary of this week’s news releases, a review of the USD index, and a complete top down analysis of the GBPUSD. Review my previous GBPUSD analysis here. Weekly support at 1.3168, resistance at 1.3571 and 1.3602. Weekly chart is in a downtrend showing lower tops and bottoms. Price has rallied and then reversed at the 79% fib retracement level. Is a further lower top now forming on the weekly chart? Read more...
Technical analysis: GBP/USD surrenders ground after 200-MA curbs rally
GBPUSD has retraced nearly 50 percent of the three-week rally that began around the 1.3200 handle, but negative forces are diminishing as the drop approaches the lower Bollinger band at 1.3428. The longer-term simple moving averages (SMAs) continue to endorse a broader bearish trajectory in the pair.
The short-term oscillators are tilting more to the downside despite the stochastic oscillator signalling some weakness in bearish pressures. The MACD, in the positive region, is distancing itself beneath its red trigger line, while the RSI is sliding lower in the negative zone. As said, the stochastic lines are attempting to come back from oversold territory, hinting that buyers are fighting back. Read more...
GBP/USD struggles to gain any meaningful traction, stuck in a range below 1.3500 mark
The GBP/USD pair seesawed between tepid gains/minor losses through the first half of the European session and remained confined in a range below the key 1.3500 psychological mark.
A combination of negative factors failed to assist the GBP/USD pair to gain any traction or capitalize on the overnight recovery move from a three-week low, around the 1.3440 region. Growing demand for UK Prime Minister Boris Johnson's resignation over a series of lockdown parties in Downing Street acted as a headwind for the British pound. Apart from this, modest US dollar strength capped upside for the major. Read more...
|Today last price||1.3446|
|Today Daily Change||-0.0041|
|Today Daily Change %||-0.30|
|Today daily open||1.3487|
|Previous Daily High||1.3566|
|Previous Daily Low||1.344|
|Previous Weekly High||1.369|
|Previous Weekly Low||1.3546|
|Previous Monthly High||1.355|
|Previous Monthly Low||1.3161|
|Daily Fibonacci 38.2%||1.3488|
|Daily Fibonacci 61.8%||1.3518|
|Daily Pivot Point S1||1.343|
|Daily Pivot Point S2||1.3372|
|Daily Pivot Point S3||1.3304|
|Daily Pivot Point R1||1.3555|
|Daily Pivot Point R2||1.3623|
|Daily Pivot Point R3||1.368|
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