“¢ The pair struggled to preserve/build on the Asian session attempted recovery move and has now drifted into negative territory for the fifth consecutive session.
“¢ Given the overnight breakthrough a short-term descending trend-channel, and a subsequent fall to two-week lows, the pair remains vulnerable to extend the bearish slide.
GBP/USD 1-hourly chart
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“¢ Technical indicators on the daily chart have started losing positive momentum and reinforce the bearish outlook, though oversold oscillation on hourly charts warrants some caution.
“¢ Hence, any follow-through weakness seems more likely to find decent support, rather prompt some short-covering trade near 100-day SMA, around the 1.2900 handle.
Daily chart
-636850363727036650.png)
GBP/USD
Overview:
Today Last Price: 1.2932
Today Daily change %: -0.19%
Today Daily Open: 1.2956
Trends:
Daily SMA20: 1.298
Daily SMA50: 1.2803
Daily SMA100: 1.2898
Daily SMA200: 1.3034
Levels:
Previous Daily High: 1.3056
Previous Daily Low: 1.2925
Previous Weekly High: 1.3212
Previous Weekly Low: 1.3043
Previous Monthly High: 1.3214
Previous Monthly Low: 1.2438
Daily Fibonacci 38.2%: 1.2975
Daily Fibonacci 61.8%: 1.3006
Daily Pivot Point S1: 1.2902
Daily Pivot Point S2: 1.2848
Daily Pivot Point S3: 1.2771
Daily Pivot Point R1: 1.3032
Daily Pivot Point R2: 1.3109
Daily Pivot Point R3: 1.3163
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