“¢ The pair extended overnight retracement slide from 1.3237 and kept losing ground after UK CPI print, erasing all of the previous session’s goodish up-move.
“¢ Technical indicators on the 1-hourly chart have started gaining negative momentum and a subsequent breakthrough 200-hour SMA point to increasing bearish bias.
“¢ Hence, a follow-through selling has the potential to continue dragging the pair back towards retesting weekly bearish gap swing lows, or sub-1.3100 level.
GBP/USD 1-hourly chart
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GBP/USD
Overview:
Last Price: 1.3151
Daily change: -32 pips
Daily change: -0.243%
Daily Open: 1.3183
Trends:
Daily SMA20: 1.3116
Daily SMA50: 1.2991
Daily SMA100: 1.3098
Daily SMA200: 1.3487
Levels:
Daily High: 1.3238
Daily Low: 1.3141
Weekly High: 1.326
Weekly Low: 1.3028
Monthly High: 1.33
Monthly Low: 1.2922
Daily Fibonacci 38.2%: 1.3201
Daily Fibonacci 61.8%: 1.3178
Daily Pivot Point S1: 1.3136
Daily Pivot Point S2: 1.309
Daily Pivot Point S3: 1.304
Daily Pivot Point R1: 1.3233
Daily Pivot Point R2: 1.3284
Daily Pivot Point R3: 1.333
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