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GBP/USD Technical Analysis: GBP and the Fed – Explosion or implosion ?

GBP/USD daily chart

  • GBP/USD is trading just above its 200-day simple moving average.
  • The Fed’s Monetary Policy Statement at 19.00 GMT and the FOMC press conference this Wednesday might provide volatility in the forex market.

GBP/USD 4-hour chart

  • GBP/USD is trading above its main SMAs suggesting bullish momentum in the medium-term.  

GBP/USD 30-minute chart

  • GBP/USD is trading at the 1.3050 support and a break below the level should lead to a drop to 1.3020.  
  • On the flip side, buyers  have the trend on their side and a bull breakout to 1.3100 and potentially up to 1.1380 is more likely.

Additional key levels

GBP/USD

Overview:
       Today Last Price:  1.3066
       Today Daily change:  -11  pips
       Today Daily change %:  -0.08%
       Today Daily Open:  1.3077
Trends:
       Daily SMA20:  1.2889
       Daily SMA50:  1.2777
       Daily SMA100:  1.29
       Daily SMA200:  1.3054
Levels:
       Previous Daily High:  1.32
       Previous Daily Low:  1.3051
       Previous Weekly High:  1.3214
       Previous Weekly Low:  1.283
       Previous Monthly High:  1.284
       Previous Monthly Low:  1.2477
       Daily Fibonacci 38.2%:  1.3108
       Daily Fibonacci 61.8%:  1.3143
       Daily Pivot Point S1:  1.3019
       Daily Pivot Point S2:  1.296
       Daily Pivot Point S3:  1.287
       Daily Pivot Point R1:  1.3168
       Daily Pivot Point R2:  1.3258
       Daily Pivot Point R3:  1.3317

 

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