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GBP/USD is currently trading at 1.2365 – just short of the downward sloping (bearish) 5-day moving average (MA) at 1.2940, which proved a tough nut to crack in the previous two trading days.  

Daily chart

As seen above, the 5- and 10-day MAs are trending south, having produced a bearish crossover on Feb. 4. That bearish view would gain credence if the 5-day MA again reverses gains, leading to a deeper drop to 1.2842 (50-day MA).  

A close above the 10-day MA would invalidate the bearish setup.  

Trend: Bearish


       Today Last Price:  1.2936
       Today Daily change:  1  pip
       Today Daily change %:  0.01%
       Today Daily Open:  1.2935
       Daily SMA20:  1.3002
       Daily SMA50:  1.2812
       Daily SMA100:  1.2891
       Daily SMA200:  1.3024
       Previous Daily High:  1.2976
       Previous Daily Low:  1.2921
       Previous Weekly High:  1.3103
       Previous Weekly Low:  1.2854
       Previous Monthly High:  1.3214
       Previous Monthly Low:  1.2438
       Daily Fibonacci 38.2%:  1.2942
       Daily Fibonacci 61.8%:  1.2955
       Daily Pivot Point S1:  1.2912
       Daily Pivot Point S2:  1.2889
       Daily Pivot Point S3:  1.2856
       Daily Pivot Point R1:  1.2967
       Daily Pivot Point R2:  1.3
       Daily Pivot Point R3:  1.3023