“¢ The pair extended last week’s sharp retracement slide from three-week tops and opened with a bearish gap amid renewed Brexit uncertainties.
“¢ Friday’s decisive break below 200-hour SMA, and a subsequent fall below 50% Fibo. level of the 1.2694-1.3175 up-move was seen as a key trigger for bearish traders.
“¢ The pair’s inability to build on the attempted intraday bounce beyond the 1.2945-50 region now points to increased selling interest at higher levels.
“¢ Technical indicators on the 1-hourly chart have drifted into oversold territory and might turn out to be the only factor helping limit further downside for now.
GBP/USD 1-hourly chart
-636776016903304535.png)
GBP/USD
Overview:
Last Price: 1.2897
Daily change: -72 pips
Daily change: -0.555%
Daily Open: 1.2969
Trends:
Daily SMA20: 1.2978
Daily SMA50: 1.3032
Daily SMA100: 1.3034
Daily SMA200: 1.3403
Levels:
Daily High: 1.3073
Daily Low: 1.2958
Weekly High: 1.3176
Weekly Low: 1.2958
Monthly High: 1.326
Monthly Low: 1.2696
Daily Fibonacci 38.2%: 1.3002
Daily Fibonacci 61.8%: 1.3029
Daily Pivot Point S1: 1.2928
Daily Pivot Point S2: 1.2886
Daily Pivot Point S3: 1.2813
Daily Pivot Point R1: 1.3042
Daily Pivot Point R2: 1.3115
Daily Pivot Point R3: 1.3156
Share
