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  • The past twenty-four hours have seen the GBP/USD take steps higher, largely fueled by staunch hopes for a last-minute Brexit deal, but 1.3100 is proving to be something of a bear trap heading into the mid-week inflection point.
  • GBP/USD Forecast: Bulls add Mid-Terms on top of Brexit hopes, 1.3250 eyed

GBP/USD M5

  • This week has marked an easy gainer for the Cable, lifting from opening prices near 1.3020, and sequential higher lows and providing a nice jumping-off point for reloading buys.

GBP/USD M15

  • Despite recent bullish moves, the Cable market has been decidedly one-sided, with Brexit-hopeful bidders keeping the Sterling aloft from a recent bottom of 1.2700, and GBP/USD traders should be increasingly fearful of reality crashing in once again as the Cable heads for near-term highs at the 1.3200 handle.

GBP/USD H1

GBP/USD

Overview:
       Last Price:  1.3116
       Daily change:  19  pips
       Daily change:  0.145%
       Daily Open:  1.3097
Trends:
       Daily SMA20:  1.2998
       Daily SMA50:  1.3029
       Daily SMA100:  1.3039
       Daily SMA200:  1.3419
Levels:
       Daily High:  1.31
       Daily Low:  1.3021
       Weekly High:  1.3042
       Weekly Low:  1.2696
       Monthly High:  1.326
       Monthly Low:  1.2696
       Daily Fibonacci 38.2%:  1.307
       Daily Fibonacci 61.8%:  1.3051
       Daily Pivot Point S1:  1.3045
       Daily Pivot Point S2:  1.2993
       Daily Pivot Point S3:  1.2966
       Daily Pivot Point R1:  1.3125
       Daily Pivot Point R2:  1.3152
       Daily Pivot Point R3:  1.3204