“¢ For the second time this week, the pair showed resilience below the 1.3100 handle, or 100-day SMA, and staged a goodish rebound from over one-week lows.
“¢ The positive momentum lacked any strong follow-through/conviction and remained capped following the release of dismal UK monthly retail sales for September.
“¢ Meanwhile, technical indicators on the daily chart have managed to hold with a mild positive bias and continue to point towards an extension of the intraday up-move.
“¢ However, a convincing break below the 1.3080-75 region (weekly lows) will indicate a bearish break and accelerate the fall towards the key 1.30 psychological mark.
GBP/USD daily chart
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GBP/USD
Overview:
Last Price: 1.3112
Daily change: -4.0 pips
Daily change: -0.0305%
Daily Open: 1.3116
Trends:
Daily SMA20: 1.3114
Daily SMA50: 1.2995
Daily SMA100: 1.3097
Daily SMA200: 1.3485
Levels:
Daily High: 1.3194
Daily Low: 1.3099
Weekly High: 1.326
Weekly Low: 1.3028
Monthly High: 1.33
Monthly Low: 1.2922
Daily Fibonacci 38.2%: 1.3136
Daily Fibonacci 61.8%: 1.3158
Daily Pivot Point S1: 1.3078
Daily Pivot Point S2: 1.3041
Daily Pivot Point S3: 1.2983
Daily Pivot Point R1: 1.3174
Daily Pivot Point R2: 1.3232
Daily Pivot Point R3: 1.3269
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