“¢ Having failed to make it through a four-month-old descending trend-line hurdle, the pair witnessed some profit-taking and the downfall accelerated after dismal UK retail sales data.
GBP/USD daily chart
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“¢ The intraday corrective slide seems to have found some support ahead of 23.6% Fibonacci retracement level of this week’s 1.2668 to 1.3000 strong upsurge amid a subdued USD action.
“¢ Technical indicators on the 1-hourly chart have slipped below the mid-point but continue to hold in the bullish territory on 4-hourly/daily chart, suggesting some dip-buying interest.
1-hourly chart
-636834150764953657.png)
“¢ Hence, any subsequent fall below the mentioned support near the 1.2925 area might be seen as a buying opportunity and is more likely to be limited by 100-hour SMA support.
GBP/USD
Overview:
Today Last Price: 1.2938
Today Daily change: -49 pips
Today Daily change %: -0.385%
Today Daily Open: 1.2988
Trends:
Daily SMA20: 1.275
Daily SMA50: 1.2752
Daily SMA100: 1.2892
Daily SMA200: 1.3099
Levels:
Previous Daily High: 1.3002
Previous Daily Low: 1.2832
Previous Weekly High: 1.2866
Previous Weekly Low: 1.2704
Previous Monthly High: 1.284
Previous Monthly Low: 1.2477
Daily Fibonacci 38.2%: 1.2937
Daily Fibonacci 61.8%: 1.2897
Daily Pivot Point S1: 1.288
Daily Pivot Point S2: 1.2771
Daily Pivot Point S3: 1.271
Daily Pivot Point R1: 1.3049
Daily Pivot Point R2: 1.311
Daily Pivot Point R3: 1.3219
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